GC Biopharma Reports Q1 2022 Results

GC Biopharma Reports Q1 2022 Results

GC Biopharma Reports Q1 2022 Results

YONGIN, South Korea–(BUSINESS WIRE)–GC Biopharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced unaudited consolidated financial results for the three months ended 31 March 2022.

First-Quarter Reported Results

Key Figures

Q1 2022


Total revenues

KRW 416.9 billion


Operating Income

KRW 41.8 billion


Net Income

KRW 18.0 billion


(1) Results and percentages compare to Q1 2021

Financial Highlights

  • Delivered total revenue growth of 47.7% YoY to KRW 416.9 billion (2021 Q1: 282.2 billion), and operating profit increased 736.0% YoY to KRW 41.8 billion (2021 Q1: 5.0 billion) in the first quarter
  • Both consolidated and unconsolidated revenues growth (+47.7%/+25.3% YoY), driven by Strong growth in consolidated subsidiaries, including GC Cell (+207.4% YoY), GC MS (+93.4 YoY) and GC WB (+14.9% YoY)
  • International and local Rx sales delivered growth in Q1 unconsolidated revenues
  • local Rx sales up 24.1% driven by strong performance of potential blockbuster drug products and other segments shows sales growth as well
  • International Rx sales up 108.5%, as its strong performance of Hunterase and S/H Flu Vx sales to be reflected Q2 like prior year
  • Gross profit margin growth of 2.1%p due to product portfolio optimization and minimize SG&A sales ratio variation

About GC Biopharma

GC Biopharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Biopharma is one of the leading plasma protein and vaccine product manufacturers globally and has been dedicated to quality healthcare solutions for more than half a century.

This press release may contain forward-looking statements, which express the current beliefs and expectations of GC Biopharma’s management. Such statements do not represent any guarantee by GC Biopharma or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Biopharma undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.


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