Kipspharma Achieves Record First-Half Sales of 134.3 Billion Won... Pharmaceutical and Biotech Business on Track

Pharmaceutical and biotech company Kipspharma achieved its highest-ever first-half sales, continuing its strong growth trajectory. Revenues surged significantly as both the expansion of its pharmaceutical and biotech business and performance improvements at its recycled battery subsidiary contributed simultaneously.

Kipspharma announced on August 14 that its consolidated sales for the first half of the year reached 134.3 billion won, a 60% increase compared to 84.0 billion won in the same period last year. This marks the company’s highest half-yearly sales since its founding.

The company also recorded steep quarterly growth. Second-quarter sales reached 74.9 billion won, surpassing the previous quarterly high of 59.4 billion won in the first quarter. Compared to the second quarter last year, sales grew by as much as 73%, widening from the 46% year-on-year increase recorded in the first quarter.

The growth was particularly notable in the pharmaceutical and biotech segment. First-half pharmaceutical and biotech sales hit 41.8 billion won, up 73% from 24.1 billion won a year earlier. This was driven by both the growth of the parent company’s operations, increased sales from Bigthink—a subsidiary expanding its anticancer drug portfolio—and newly acquired pharmaceutical subsidiaries’ performance contributions.

Battery Solutions, the subsidiary responsible for battery recycling, also contributed to overall growth. First-half sales reached 91.1 billion won, a 53% increase from 59.4 billion won during the same period last year.

The company explained that the impact of expanded production capacity is now being fully realized. At the end of last year, Battery Solutions added one rotary kiln and completed capacity expansion construction to increase throughput in existing rotary kilns. As a result, annual lead production is expected to rise from the previous level of 36,000 tons to over 70,000 tons this year.

However, despite top-line growth, profitability remains a challenge for improvement. Consolidated operating loss for the first half came to 3.1 billion won. This was attributed to increased research and development expenses resulting from pipeline introductions and the expansion of research personnel, as well as aggressive marketing costs.

The company anticipates that as top-line growth continues and cost pressures ease, an operating profit turnaround will be possible within the year.

Ha Yong Kim, CEO of Kipspharma, stated, “The long-prepared transition to a pharmaceutical and biotech business has been successful, leading to this record sales milestone.” He added, “Through additional mergers and acquisitions and further business expansion, we aim to achieve consolidated sales of 500 billion won by the end of 2027.”

He further commented, “We will also strive to produce tangible results in the near future from the ovarian cancer treatment currently undergoing clinical trials in the UK, as well as from our oral drug delivery platform development, to duly reflect these achievements in corporate value.”

This content was produced with the assistance of AI translation services.