Hanmi Pharm Reports Q1 Operating Profit of 29.9 Billion KRW, Slight Increase YoY... Beijing Hanmi Shows Recovery Trend

[Asia Economy Reporter Seo So-jung] Hanmi Pharm (CEO Woo Jong-su and Kwon Se-chang) announced on the 27th that its consolidated operating profit for the first quarter of this year reached 29.9 billion KRW, a 4.2% increase compared to the same period last year.

During the same period, sales amounted to 270.3 billion KRW, and net profit was 23.2 billion KRW.

A Hanmi Pharm official explained, "Due to the impact of the COVID-19 pandemic, some respiratory products and export sectors were affected, resulting in a slight decrease in sales compared to the previous year. However, net profit increased by 101.7% compared to the same period last year."

Hanmi Pharm, which has ranked first in the domestic outpatient prescription market for three consecutive years since 2018, had 12 blockbuster products with sales exceeding 10 billion KRW last year. Based on the growth of products such as Rosuzet, Amozaltan, Esomezol, Amozaltan Plus, Amodipine, Hanmi Tams, Naxozol, Lovelito, Hyalumini, Kanitil, Lavondi, and Fidogl, the company expects to achieve first place in the domestic outpatient prescription market for the fourth consecutive year.

In the first quarter of this year, Hanmi Pharm made various advances in its pipeline of over 30 new drug candidates. Hanmi Pharm’s first bio-new drug, "Rollontis," received new drug approval from the Ministry of Food and Drug Safety in March. In May, it is scheduled to undergo an on-site inspection at the Pyeongtaek bioplant, the final hurdle for approval by the U.S. Food and Drug Administration (FDA).

Additionally, two innovative rare disease treatment new drugs from Hanmi Pharm obtained FDA clinical phase 2 approval, and the anticancer innovative new drug "Poziotinib" was designated as a fast track by the FDA. Hanmi Pharm’s injectable antibiotic "Tazim" became the first domestic pharmaceutical product to pass China’s government consistency evaluation and was listed on the priority prescription list of medical institutions throughout China.

Beijing Hanmi Pharm experienced sluggish performance due to the impact of COVID-19 until mid-last year but has been recovering since the fourth quarter. Beijing Hanmi Pharm’s sales for the first quarter of this year grew 11.6% year-on-year to 73.4 billion KRW, and operating profit increased by 25.7% to 19.2 billion KRW.

Sales of the constipation medicine "Litong," sold by Beijing Hanmi Pharm, rose 52.7% year-on-year to 15.8 billion KRW in the first quarter, and sales of the children’s probiotic digestive aid "MyMy" increased by 21.5% compared to the same period last year.

Hanmi Pharm CEO Woo Jong-su said, "Despite the challenging market conditions caused by COVID-19, Hanmi Pharm continues meaningful internal growth through competitive products."

Meanwhile, Hanmi Science (CEO Song Young-sook and Lim Jong-yoon), the holding company of Hanmi Pharm Group, recorded consolidated sales of 215.1 billion KRW and operating profit of 13.7 billion KRW in the first quarter.

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