Humedix posts record Q2 sales on Re2O growth, ophthalmic solution orders

Humedix posted record quarterly sales in the second quarter, driven by strong demand for its aesthetics products and increased orders for ophthalmic solutions.

Humedix posted record quarterly sales in the second quarter, driven by strong growth in its aesthetics business, including its ECM-based skin booster Re2O.

The aesthetics-focused affiliate of Huons Group said Friday that second-quarter sales on a standalone basis reached 50.4 billion won ($36 million), up 17 percent from a year earlier. Operating profit rose 8 percent to 11.7 billion won, while net profit fell 69 percent to 2.4 billion won.

The company attributed the record sales mainly to stronger sales of Re2O, its extracellular matrix (ECM)-based skin booster, following an expansion in production capacity at the product's manufacturer.

Humedix also cited increased academic marketing activities as well as growing orders for single-use ophthalmic solutions.

Operating profit increased as higher sales of Re2O and other newly launched aesthetics products, along with increased contract orders, improved gross profit. Net profit declined due to valuation losses on financial assets.

Humedix said it plans to maintain sales growth and improve profitability in the second half by expanding the customer base for Re2O and its newly launched Re2O Fine product while further growing its Elravie filler and ECM booster businesses.

The company also plans to strengthen its aesthetics portfolio with products including the DermaShine Duo_RF medical device, Arche wound dressing and Izment, a plant-derived exosome product.

Valpien, a combination filler containing sodium polynucleotide (PN) and hyaluronic acid (HA), is also expected to join the portfolio. Humedix applied for Korean regulatory approval for the product in May and is targeting a domestic launch by the end of this year.

In cosmetics, the company plans to expand distribution of its Elravie Re2O ECM cosmetic products beyond existing home-shopping and online channels to pharmacies and additional online and offline channels.

Humedix is also seeking overseas growth in its prescription drug business. Following the start of exports of its osteoarthritis injection to Brazil, the company plans to enter additional markets including Russia, the Commonwealth of Independent States (CIS) and Southeast Asia.

It also aims to secure additional contract manufacturing organization (CMO) orders by diversifying its prescription drug portfolio.

“Despite difficult business conditions at home and abroad, we maintained growth through sales and marketing based on our diversified product portfolio,” Humedix CEO Kang Min-jong said. “In the second half, we will continue to grow by launching new products through commercialization partnerships with aesthetics companies and expanding our sales channels.”