PharmaResearch, a prominent South Korean biopharmaceutical company making significant strides in the aesthetic medicine sector, is intensifying its global expansion efforts, notably through the direct sale of its flagship skin rejuvenation injectable, ‘Rejuran,’ in Europe.
According to industry sources, PharmaResearch has recently commenced direct sales of Rejuran in select European nations, including Germany and Albania. This strategic move signifies a shift in their European market approach. However, the company intends to maintain its existing distributor network in major European markets for the time being.
A company representative stated, "We are implementing market-specific, customized strategies in strategic regions by concurrently pursuing both direct sales and distribution channels." This dual approach allows PharmaResearch to gain greater control over its brand and customer relationships in key areas while leveraging the established infrastructure of its existing partners.
Rejuran is renowned for its efficacy in improving fine lines around the face and eyes, reducing scars, and enhancing skin elasticity. The product, along with PharmaResearch’s other key aesthetic injectable, Conjuran, is formulated using the company's proprietary DNA Optimizing Technology (DOT). This technology harnesses polynucleotide sodium (PN), a regenerative substance extracted from salmon DNA, which is known to stimulate the production of collagen and elastin, crucial components for skin health and rejuvenation.
PharmaResearch’s proactive approach to the European market was further underscored by its successful acquisition of the EU Medical Device Regulation (MDR) certification in late 2024. This certification is a critical prerequisite for medical device manufacturers seeking to market their products within the European Union, ensuring adherence to stringent safety and performance standards. Obtaining MDR certification highlights PharmaResearch’s commitment to meeting the rigorous regulatory requirements of the European market and signals its readiness for broader market penetration.
Currently, China accounts for over half of Rejuran’s total export volume, with the broader Asian market, including Vietnam and Thailand, representing more than 70% of its international sales. Recognizing the potential risks associated with such geographical concentration, PharmaResearch is strategically focusing on market diversification to mitigate reliance on specific regions and unlock new growth opportunities in untapped markets. The move towards direct sales in Europe is a significant step in this direction, aiming to establish a stronger foothold in a sophisticated and high-potential market.
Established in 2001, PharmaResearch initially concentrated on importing pharmaceutical products, including the immunomodulatory agent Zadakine. A pivotal moment in the company’s trajectory occurred in 2018 with the acquisition of the filler business unit of Amorepacific Group’s affiliate, AESTURA. This acquisition marked PharmaResearch’s entry into in-house drug development and significantly bolstered its presence in the aesthetic market. In 2014, the company launched Rejuran, a skin rejuvenation injectable based on salmon-derived DNA, which quickly propelled it to prominence in the aesthetic medicine field.
Continuing its strategic expansion, PharmaResearch recently established a subsidiary focused on non-aesthetic products, including Conjuran, Zadakine, and Lian. This move allows for greater operational efficiency and enables PharmaResearch to dedicate more resources to the research, development, and global sales expansion of its core aesthetic products, particularly Rejuran. By streamlining its business operations and strategically separating its aesthetic and non-aesthetic portfolios, PharmaResearch aims to optimize its focus and accelerate growth in the high-potential aesthetic market.
The company’s robust performance in recent years underscores the success of its strategic initiatives. Fueled by the increasing global demand for Rejuran, PharmaResearch reported a remarkable 34% year-on-year increase in revenue in the previous fiscal year, reaching KRW 349.67 billion. Operating profit also saw substantial growth of 36.5% to KRW 125.92 billion, while net profit increased by 15.2% to KRW 89.08 billion. These strong financial results demonstrate the growing market acceptance of Rejuran and the effectiveness of PharmaResearch’s global expansion strategy.
Industry analysts anticipate that PharmaResearch’s direct sales initiative in Europe, coupled with its MDR certification and ongoing market diversification efforts, will significantly contribute to its future growth trajectory. By establishing a direct presence in key European markets, PharmaResearch can build stronger brand recognition, cultivate direct relationships with practitioners and consumers, and tailor its marketing and sales strategies to the specific needs of each market. This strategic pivot is expected to reduce the company’s reliance on the Asian market and unlock substantial growth potential in the European aesthetic medicine landscape, further solidifying PharmaResearch’s position as a global leader in the biopharmaceutical industry. The company’s commitment to innovation, coupled with its strategic market expansion, positions it for continued success in the dynamic and rapidly evolving field of aesthetic medicine.
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