Title | GC Pharma Reports Q2 2020 Results | ||||||||||||
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Date of registration | 2020-07-30 | ||||||||||||
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Contents | Vaccines’ supply to be stronger in the second half YONGIN, South Korea, 30 July 2020 - GC Pharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced unaudited consolidated financial results for second quarter of 2020. Second-Quarter Reported Results(1)
(1) Results from continuing operations (Green Cross MS’ blood bag business has been classified as discontinued operations) (2) Results and percentages compare to equivalent 2019 period
● Unconsolidated revenues temporary setback impacted by international shipping schedule changes ● Maintain double-digit growth in consolidated subsidiaries, including Green Cross MS and Green Cross LabCell ● Green Cross local sales up 3.4% reflecting strong vaccines and CHC segment performance ● Green Cross international sales temporarily slowed down due to S/H sales of Flu vaccine split Q1 and Q2 unlike prior year, and VZ vaccine expected stronger in the second half ● Weaker sales of international proteins business continued, as a result of controlling operations ● Gross profit margin growth driven by increased sales and favourable mix, SG&A rates impact on operating profit margin but expected to progressively ease over the course of the second half Expected R&D Milestones ● Hunterase China regulatory decision in Q3 ● GreenGeneF China regulatory decision in Q4 ● Hunterase ICV Japan regulatory decision in Q4 ● IVIG 10% US BLA submission in Q4
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