bullish
Boryung Pharmaceutical (003850 KS): 2Q23 Marks Six Consecutive Quarters of Revenue Growth
528 Views31 Aug 2023 18:03
SUMMARY
- Boryung Pharmaceutical (003850 KS) reported strong 2Q23 result, with revenue increasing 19% YoY to a record high of KRW216 billion, driven by 24% YoY growth in prescription drugs.
- H1 2023 revenue and net profit progressed 52% and 62% of the annual target, respectively, marking the fastest semi-annual lap ever to annual target.
- Boryung has reiterated guidance for 2023 revenue and operating profit of KRW810 billion and KRW61 billion, representing growth of 12% and 1%, YoY, respectively.
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Tina Banerjee
Global Healthcare Analyst
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