Dx&Vx Records Revenue of KRW 21.7 billion in Q3


Dx&Vx, a microbiome-based bio healthcare company, recorded over 20 billion won in cumulative sales in the third quarter and continued to generate a surplus for a consecutive quarter.

On the 15th, Dx&Vx announced that it recorded 21.7 billion won in operating profit and 800 million won in net profit in the third quarter. It predicts its highest-ever performance in that it already outperformed last year’s annual turnover in the first half and recorded revenue of 8.6 billion won in Q3.

The diagnosis business, the flagship service of Dx&Vx, broadened its business area and improved profitability through reorganization. The growth in its bio healthcare business, which Dx&Vx has newly pushed into the market, has also contributed to the record-high earnings.

In particular, the steady export of infant healthcare products developed by the microbiome R&D center to China has led to its successful performance.

Dx&Vx will launch 20 microbiome-based products for prevention and treatment of various inflammatory diseases in Korea and China, followed by respiratory and immune health products rollout in the first half of next year. Thus, it is expected to continue its growth in the biohealthcare sector.

Recently, Dx&Vx has laid the groundwork to transform itself into a company that serves the R&D of microbiomes and total health care solutions. To that end, the company acquired Korea Biopharm, which is equipped with GMP manufacturing facilities with annual sales of 10 billion won. In addition, it has established networks with local hospitals and clinics and distributes channels in China to establish a Chinese affiliate. Furthermore, the company scouted Dr. Lee Suwon, who had led the research and development of microbiome in Beijing Hanmi and Coree China.

Park Sang-tae, CEO of Dx&Vx, said, “We will take off as a biohealthcare company that serves personalized and integrated medical diagnosis solutions, based on profitability and continuity. […] We are planning to acquire tangible and intangible assets abroad to raise the future value of our shareholders and lay the foundation for long-term growth. We will also increase investment in the research and development and clinical studies for the development of next-generation drugs and new technology.”

Source: Asia Economy