[Shin-Min Joon, Edaily Reporter] PanGen Biotech of Huons Group reported robust quarterly revenue and turned a profit in the second quarter of this year.

PanGen CI. (Image=PanGen)

PanGen Biotech announced on Wednesday its second quarter revenue of 3.49 billion won and operating profit of 833 million won up 53.7 percent and turned a profit respectively from a year earlier.

PanGen Biotech’s revenue on Erythropoietin (EPO) biosimilar recorded 76% growth in the second quarter of this year compared to the same period last year.

PanGen Biotech recorded 368% revenue growth for Contract Development and Manufacturing Organization (CDMO) business, and 77% revenue growth on running royalty, year-over-year. The company’s order backlog totaled 5.3 billion won as of June 30, including a Contract Manufacturing Organization (CMO) agreement worth 1.9 billion won with CHA Vaccine Institute in the second quarter.

The company’s operating profit rose dramatically due to increase in exports on EPO biosimilar and royalty revenue. For six months ended June 30, 2025, PanGen Biotech reported its revenue of 6.93 billion won marking a 20.6% year over year increase and operating profit of 1.53 billion won, turning into a profit compared to the loss of 36 million won same period last year.

PanGen Biotech showed strong growth throughout all business areas including EPO biosimilar and Contract Development Organization (CDO) business.

For EPO biosimilar business, PanGen Biotech showed strong overseas sales in ASEAN countries, including Malaysia and Philippines, and developed full-fledged sale in Saudi Arabia and Turkiye. PanGen Biotech expects continued EPO revenue growth in the Middle East and Africa.

PanGen Biotech provides CDMO service for biopharmaceuticals and manufactures and sells biosimilar based on its expertise in developing original cell lines and establishing processes for biopharmaceutical production. Equipped with a good manufacturing practice (GMP) facility, PanGen Biotech has continuously received CMO orders including the order from Huonslab last year.

CEO of PanGen Biotech Jaeseung Yoon said “Continuing to build upon our momentum PanGen Biotech will deliver stronger sales by strengthening overseas marketing for EPO biosimilar in the second half of this year. We will continue to show improvement in performance by focusing on CDMO expansions.”