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GC Pharma Reports Full Year 2017 Results

Delivers Continued Momentum in 2017 Through Broadly-based Sales Growth
GC Pharma
2018-02-05 10:46 1331

YONGIN, South Korea, Feb. 4, 2018 /PRNewswire/ -- GC Pharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced unaudited results for the year ended 31 December 2017.

Key Figures

Full Year 2017

Growth(1)

Total revenues

KRW 1,287.9 billion

+7.5%

Operating income

KRW 90.3 billion

15.1%

K-IFRS net income

KRW 56.7 billion

(13%)

(1) Results and percentages to the full financial year 2016

Financial Highlights

  • Delivered total revenues growth of 7.5% to KRW 1.29 trillion (2016: KRW 1.20 trillion), driven mainly by plasma products and vaccines sales.
  • Operating income increased 15.1% to KRW 90.3 billion (2016: KRW 78.5 billion), primarily due to higher revenue from plasma and vaccine products and 1.3% lower SG&A expense rate.

Product and Pipeline Highlights

  • Expanded commercial portfolio with 7 new product launches.
  • Progressed pipeline of innovative therapies with over 10 programs in Phase 3.

EC Huh, Ph.D., GC Pharma President, commented:

"Our business performance again created significant value for shareholders and other stakeholders. To continue delivering on our promise to patients, we further strengthened our future growth opportunities in 2018 and expect to generate fairly strong top-line growth."

About GC Pharma

GC Pharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in South Korea, GC Pharma is the largest plasma protein product manufacturer in Asia and has been dedicated to quality healthcare solutions more than half a century. Green Cross Corporation updates its corporate brand as GC Pharma in early 2018. Green Cross Corporation remains the company's registered, legal name.

This release includes forward-looking statements, which express the current beliefs and expectations of GC Pharma's management. Such statements speak only as of the date on which they are made and the company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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Source: GC Pharma
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