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GC Pharma posts record earnings in 2020

GC Pharma and its affiliated companies GCMS and GC LabCell posted record earnings in 2020, they announced Tuesday.

GC Pharma’s consolidated earnings report showed that it made 1.5 trillion won ($1.34 billion) in revenue in 2020, up 10.8 percent on-year. It was the best figure in the company’s history since 1967.

In the same period, operating profit marked 50.3 billion won, up 20.6 percent on-year, while net profit came to 89.3 billion won.

GC Pharma accounted the robust growth to improved performances of its vaccine business both in Korea and overseas, as well as subsidiary companies’ persistent upward streak.

Looked closely, GC Pharma’s blood plasma-derived medicine accounted for 418.4 billion won in revenue, with vaccines marking 361.4 billion won, regular medicine 282.6 billion won and consumer health care products 161.9 billion won. The vaccine business revenue rose 20.4 percent on-year and consumer health care business 40.4 percent on-year.

Affiliated company GCMS posted over 100 billion won in revenue for the first time, a feat the company credited to sales of its COVID-19 test kits and on-site SARS-CoV-2 testing solution.

GC LabCell, a cell therapy developer, also had a surge in demand for COVID-19 sample evaluations. Added with the licensing out of solid cancer treatment pipeline to the US’ MSD, GC LabCell in 2020 marked 47.8 percent on-year growth of revenue at 85.6 billion won.

By Lim Jeong-yeo (kaylalim@heraldcorp.com)
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