The Korea Herald


GC LabCell posts record-breaking Q3 performance

By Lim Jeong-yeo

Published : Oct. 28, 2020 - 17:30

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GC LabCell tentatively filed a record-breaking third-quarter business performance, on the back of increased swab sample analysis and biologics distribution.

From July to September, GC LabCell made a 2.9 billion won ($2.5 million). Its revenue increased 64 percent on-year to 23.9 billion won -- the highest figure GC LabCell has ever made in a quarter.

Accumulated revenue from the first quarter through third quarter reached 59.1 billion won, surpassing 2019’s yearly accumulated revenue of 57.9 billion won.

GC LabCell said that sample analysis volume grew in diverse areas, marking an on-year revenue growth of 49.5 percent. Biologics distribution business revenue grew 228.7 percent, on-year.

Subsidiary company GCCL, or GC Central Laboratory, whose contract research organization deals reflect on GC LabCell’s consolidated business report, also recorded a 51 percent jump in its revenue compared to the same period last year.

A GC LabCell official said that he expects similar growth for the remainder of the year and that the company will redirect the earnings growth to reaserch and development of next-generation natural killer cell therapies.

By Lim Jeong-yeo (