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Korean biotech known for PDRN-based Rejuran skin-booster injectables, alongside a pharmaceutical and cosmetic-ingredient business.
Korean biotech known for PDRN-based Rejuran skin-booster injectables, alongside a pharmaceutical and cosmetic-ingredient business.
Sells Rejuran to aesthetic clinics, which buy it for injection on their patients, with a growing part exported through local distributors; the older pharmaceutical line (Placentex) and PDRN supply to cosmetics makers give income beyond the clinics. Because the same core ingredient is used across all lines, patent protection and regulatory approvals in each country matter.
Moat: narrow (IP / patents, brand). Patented PDRN regenerative technology behind the globally popular Rejuran skin-booster brand.
Headquarters: Seongnam, South Korea · Founded: 2000 · Employees: 526
Size PharmaResearch (214450.KS) is a South Korea Health Care company (Pharmaceuticals: Major) with a market value of $1.79B, the 148th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩234,500 on 6 Nov 2026.
Performance Over six months the shares fell 25.2%, against -10.7% for the median peer and -24.5% for the South Korea market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 34.2% over the last twelve months (peer median +10.7%); the operating margin is 39.1% (peer median 12.1%).
Valuation It trades at 12.4× forward earnings against a peer median of 22.0× (3rd cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -14% a year for seven years (Req g). Recent delivered growth is +38%, so the hurdle is -52 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 33.2 points above its cost of capital (5.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩604B | ₩536B | ₩350B | ₩261B | ₩195B |
| Revenue growth | — | +53% | +34% | +34% | — |
| Gross profit | ₩459B | ₩402B | ₩242B | ₩182B | ₩134B |
| EBITDA | ₩253B | ₩228B | ₩140B | ₩104B | ₩76.7B |
| Net income | ₩186B | ₩165B | ₩92.0B | ₩76.6B | ₩40.6B |
| Free cash flow | ₩138B | ₩154B | ₩102B | ₩52.9B | ₩42.2B |
| Capital expenditure | ₩36.7B | ₩35.8B | ₩38.7B | ₩13.2B | ₩17.8B |
| Total debt | ₩221B | ₩214B | ₩209B | ₩34.3B | ₩66.8B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| PharmaResearch 214450.KS | $1.79B | -25% | +34% | 39% | 12.4× | -14.2% |
| Hugel 145020.KS | $1.52B | -26% | +17% | 38% | 15.7× | -7.9% |
| CLASSYS 214150.KS | $1.25B | -54% | +25% | 46% | 12.1× | -8.7% |
| Caregen 214370.KS | $1.01B | -73% | -8% | 24% | 22.6× | 35.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 214450.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -24.0% | -0.1% | 2nd lowest of 21 |
| 6-month return | -25.2% | -10.7% | 4th lowest of 20 |
| Distance from 52-week high | -58.2% | -34.5% | lowest of 21 |
| Revenue growth (TTM) | +34.2% | +10.7% | 4th highest of 19 |
| Operating margin | 39.1% | 12.1% | highest of 19 |
| Forward P/E | 12.4× | 22.0× | 3rd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -14.2% | 11.9% | least demanding of 14 |
| Growth delivered (Del g) | +37.6% | +10.8% | highest of 14 |
| Hurdle (Req g minus delivered) | -51.7 pp | -0.4 pp | least demanding of 14 |
| ROIC minus cost of capital | +33.2 pp | -0.1 pp | 2nd highest of 20 |
| EV / EBITDA | 8.3× | 15.9× | cheapest of 9 |
| Net debt / EBITDA | -1.5× | -1.0× | 3rd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PharmaResearch 214450.KS | South Korea | $1.79B | -25% | +34% | 39% | 12.4× | -14.2% | +37.6% |
| Tsumura & 4540.T | Japan | $1.81B | +2% | +10% | 18% | 10.1× | n/a | n/a |
| Eris Lifesciences ERIS.NS | India | $1.82B | -11% | +11% | 26% | 25.7× | 24.7% | +20.9% |
| Zhejiang Wolwo Bio-Pharmaceutical 300357.SZ | China | $1.77B | -11% | +7% | 39% | 27.8× | 19.5% | +10.8% |
| Beijing Aosaikang Pharmaceutical 002755.SZ | China | $1.76B | -25% | -13% | 12% | 63.3× | 14.7% | -14.0% |
| Agios Pharmaceuticals AGIO | United States | $1.76B | +6% | +141% | -467% | n/a | n/a | n/a |
| Cohance Lifesciences COHANCE.NS | India | $1.75B | -11% | +41% | 6% | 82.6× | n/a | n/a |
| Guobang Pharma 605507.SS | China | $1.84B | -8% | +3% | 12% | 15.9× | -5.8% | +7.4% |
| China National Accord Medicines 000028.SZ | China | $1.85B | -4% | 0% | 2% | 11.1× | -9.4% | +4.2% |
| Pfizer PFIZER.NS | India | $1.87B | -19% | +12% | 34% | 21.5× | 11.2% | +2.4% |
| Yifan Pharmaceutical 002019.SZ | China | $1.72B | -14% | -5% | 8% | 27.8× | n/a | n/a |
| Shenzhen Hepalink Pharmaceutical 002399.SZ | China | $1.88B | -13% | -6% | 8% | 22.5× | 0.1% | +0.5% |
| Sarepta Therapeutics SRPT | United States | $1.88B | -11% | -20% | -3% | n/a | 11.9% | +32.4% |
| Faes Farma FAE.MC | Spain | $1.71B | +5% | +32% | 14% | 17.1× | 3.1% | +9.9% |
| SELLAS Life Sciences SLS | United States | $1.70B | +68% | n/a | n/a | n/a | n/a | n/a |
| Maze Therapeutics MAZE | United States | $1.90B | +29% | +700% | -728% | n/a | n/a | n/a |
| AstraZeneca Pharma India ASTRAZEN.NS | India | $1.69B | -25% | +31% | 10% | n/a | 49.3% | +23.0% |
| Shenyang Xingqi Pharmaceutical 300573.SZ | China | $1.91B | -25% | +17% | 33% | 13.7× | 6.0% | +29.1% |
| Caplin Point Laboratories CAPLIPOINT.NS | India | $1.92B | +28% | +15% | 31% | 24.6× | 29.3% | +15.7% |
| NATCO Pharma NATCOPHARM.NS | India | $1.68B | -30% | -21% | 25% | 18.8× | 15.3% | +19.0% |
| Braveheart Bio BRVE | United States | $1.67B | n/a | n/a | n/a | n/a | n/a | n/a |