News
2024.03.12
Dx&Vx announced on the 12th that its Chinese subsidiary, DX&VX BJ recorded sales of 14.8 billion won and operating profit of 3.9 billion won last year. Dx&Vx BJ has set a sales target of 38 billion won for this year. One of the main businesses of Dx&Vx BJ is pharmaceuticals. Starting with basic antibiotics, it supplies a range of essential medications highly demanded for prescription in 1.06 million basic healthcare institutions across China, including oral care products, skincare treatments, and ophthalmic treatments. Dx&Vx brand pharmaceuticals are produced in China through collaboration with local pharmaceutical manufacturers certified by Good Manufacturing Practice (GMP), which has shortened the clinical and approval process to less than five years per product. Dx&Vx BJ continues to expand its lineup of basic pharmaceuticals this year and plans to further expand its portfolio with best-in-class products and new drugs in the future. Particularly, its competitive advantage lies in owning proprietary products based on microbiome in the Chinese health functional food market, which is worth approximately 298.9 billion yuan (approximately 55 trillion won). Its online channels and traditional offline distribution networks also contribute to its competitiveness. The representative brand for probiotics for infants and children, 'Ofmom', is a family healthcare brand designed for prevention and management throughout life stages. Expanding its positioning, it has developed and launched beauty and health products for women, as well as products targeting the middle-aged and elderly population for the prevention and improvement of chronic diseases. COREE Group and Dx&Vx have their own research facilities and production infrastructure for microbiome in South Korea, Italy, and China. Some premium-grade products are produced in Italy and South Korea for import and sale, while the majority of products are directly produced and supplied in China. Additionally, a lineup of 12 therapeutic adjunct products developed by the Italian AAT Research Institute is scheduled for release in the Chinese market soon after their introduction in Korea. A representative from DX&VX stated, "Despite being the first year since the establishment of our healthcare business in China last year, we achieved growth and profitability without any setbacks. We anticipate remarkable performance and profits this year as well, with blockbuster health functional foods and pharmaceuticals set to be launched soon. We believe DX&VX can play a significant role in the future."