Medytox headquarters in Gangnam-gu, Seoul. /Courtesy of News1

The biopharmaceutical company Medytox announced on the 12th that its consolidated revenue in the first quarter was 64 billion won, an increase of 17% compared to the same period last year. The company posted an operating profit of 5.5 billion won and a net profit of 3.3 billion won, marking a turnaround to profit.

This is the company's highest revenue for the first quarter ever. The company noted that compared to the first quarter of last year, domestic revenue in the first quarter of this year increased by 26%, and exports rose by 12%, showing balanced growth. In particular, a growth rate of 88% was recorded in the Brazil and Americas region.

The main products are botulinum toxin preparations. The so-called botox is a protein extracted from the food poisoning bacterium Clostridium botulinum, which causes muscle paralysis, reduces muscle volume, and smooths wrinkles. Medytox has four product lines of botulinum toxin preparations: "Medytoxin," "Innotoxin," "Coretox," and "Newlux," with domestic sales in the first quarter increasing by 79% compared to the first quarter of last year, and overseas sales rising by 16%.

Medytox said, "In the second quarter, the overseas approval for the next-generation toxin preparation 'Newlux' is expected to continue, and with the launch of two new lines of hyaluronic acid filler 'Nulamis,' we are anticipating continued revenue growth." He added, "We will focus on executing key projects without interruption, including obtaining domestic approval for our self-developed fat-dissolving injection and preparing to enter advanced markets with the next-generation liquid form botulinum toxin preparation MT10109L."