Blue M Tech records average annual growth rate of 86%, making its presence felt in pharmaceutical e-commerce in Korea

Blue M Tech, an e-commerce company specializing in pharmaceuticals, is expected to increase its sales by about 48% year-on-year to 113.9 billion won (about 13.1 billion yen) in 2023, and its operating profit by about 44%.
The company recorded 1.3 billion won (about 150.08 million yen). In December 2023, the "Tesla Requirements" will allow loss-making companies with growth potential to list on the Kosdaq market for emerging companies.
The company's core business is the development and sale of BlueFarm Co., Ltd., a pharmaceutical distribution platform launched in 2018 that allows direct drug transactions, a first for the Korean industry.
The platform's main feature is that it is a system that enables direct online transactions, which were previously conducted between pharmaceutical companies, hospitals, and pharmacies.
The number of products handled by the company in the January-June period of 2023 was 78,900, the number of hospitals registered to use the service was 27,400, and the number of medical institutions actually using the service reached an average of 8,000 per month.
The company plans to introduce an artificial intelligence (AI) engine to its platform this year in order to boost sales through care services and advertising for companies registered on the platform.
The company stated, "We will continue to proceed with our business as planned this year and maintain the trend of improving performance."