Dong-A ST Reports Operating Profit of 43.6 Billion KRW in H1, Up 44% YoY

[Asia Economy Reporter Choi Dae-yeol] Dong-A ST announced on the 29th that its operating profit for the first half of this year reached 43.6 billion KRW, a 43.5% increase compared to the same period last year. Sales amounted to 312.8 billion KRW, up 6.3% during the same period. Net profit was 37.9 billion KRW, a 22.7% increase.

However, the second quarter saw a slight decline. From the first quarter of this year, the early supply of prescription drugs (ETC) due to COVID-19, along with decreased sales in overseas exports and the medical device and diagnostics sectors, led to a decrease compared to the same period last year. Second-quarter sales were 111.6 billion KRW, down 26.4% from the second quarter of last year, and operating profit and net profit turned to losses.

The company explained, "Cumulative sales for the first half increased steadily due to balanced growth in key products," adding, "Despite a tendency for sales of gastroenterology and orthopedics products to decline in the domestic prescription drug market due to COVID-19, our gastroenterology products actually increased due to the ranitidine issue."

Meanwhile, in the research and development (R&D) sector, the company reported significant improvement compared to placebo in the results of the domestic Phase 2 clinical trial for an overactive bladder treatment. The domestic Phase 1 clinical trial for a patch-type dementia treatment has been completed, and a Phase 1 trial is underway in India. The diabetes treatment 'Sugannon' has been launched in India and Russia, and regulatory approval applications have been completed in Brazil. It has been launched or is undergoing approval in 17 Latin American countries.

This content was produced with the assistance of AI translation services.