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Pharmaceutical firms' exports jump in H1

All Headlines 16:12 August 25, 2016

SEOUL, Aug. 25 (Yonhap) -- South Korea's top 20 pharmaceutical firms saw their revenues from exports increase in the first half of the year, an industry report showed Thursday.

According to the report by the Financial Supervisory Service, overseas shipments by the top 20 firms in the first six months of this year came to 710.6 billion won (US$636.4 million), an 18 percent jump from the same period a year go.

LG Life Sciences Ltd., the pharmaceuticals unit of South Korea's LG Group, said the overseas revenue logged over 100 billion won in the first half of this year, accounting for over 40 percent of its total revenue.

The firm said its overseas shipments of its hyaluronic acid fillers used for cosmetic purposes, "Yvoire," jumped.

Daewoong Pharm Co. said its botox product, "Nabota," was exported for the first time in the first half of this year, contributing to its increased overseas shipments.

Green Cross Corp., however, said its exports decreased by nearly 16 percent on-year in the first half of 2016.

"Overseas shipments of blood products will be reflected in the second half of this year," said a company official, noting the revenues from overseas shipments will gather ground later this year.


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