GC Pharma Reports Full Year 2020 Results

Achieved double-digit growth over the previous year

YONGIN, South Korea–(BUSINESS WIRE)–GC Pharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced unaudited financial results for the year ended 31 December 2019.

Key Figures(1)	Full Year 2020	Growth(2)
Total revenues	KRW 1,504.1 billion	+10.8%
Operating profit	KRW 50.2 billion	+20.6%
K-IFRS profit after taxation	KRW 89.1 billion	–
(1) Results from continuing operations (Green Cross MS’ blood bag business has been classified as discontinued operations)
(2) Results and percentages compare full financial year 2019

Financial Highlights

• Delivered total revenue growth of 10.8% to KRW 1,504.1 billion (2019: 1,357.1 billion), and operation profit increased 20.6% to KRW 50.2 billion (2019: 41.7 billion) in the full year of 2020
• Unconsolidated revenues growth of 15.1%, driven by strong vaccines sale
• Strong subsidiaries performance continued, including Green Cross MS and Green Cross LabCell
• Local sales up 7.2% reflecting strong Vx and CHC segment performance
• International sales growth of 13.5% benefited from strong sales performance of Vx and Rx segment, and Flu and VZ Vx sales growth boosted overall export performance
• Achieved double-digit operation margin growth driven by increased overall local and international sales
• The performance for core businesses this year in line with where the company expect it to be, and will continue to focus on improving profitability as well as expending R&D investment for future business

Short-term R&D Milestones

• Hunterase ICV Japan regulatory decision in Q1 (Approved 22 January 2021)
• GreenGeneF China regulatory decision in Q1
• IVIG 10% US BLA submission in Q1

About GC Pharma

GC Pharma is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in South Korea, GC Pharma is the largest plasma protein product manufacturer in Asia and has been dedicated to quality healthcare solutions more than half a century. Green Cross Corporation updates its corporate brand as GC Pharma in early 2018. Green Cross Corporation remains the company’s registered, legal name.

This release includes forward-looking statements, which express the current beliefs and expectations of GC Pharma’s management. Such statements speak only as of the date on which they are made and the company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

Investor/Media Contact
HyunGoo Kang

+82 31 260 9382

gookang@gccorp.com

WooSub Shin

+82 31 260 9397

isswoo@gccorp.com

Yelin Jun

+82 31 270 1505

yelin@gccorp.com

Hansaem Kim

+82 31 260 9392

hs.kim@gccorp.com