Hanmi Pharm Reports 2Q Sales of 279.3 Billion KRW and Operating Profit of 15.9 Billion KRW, Operating Profit Up 49.6%

Hanmi Pharm Headquarters Exterior (Photo by Hanmi Pharm)

[Asia Economy Reporter Chunhee Lee] Hanmi Pharmaceutical achieved strong results with sales of 279.3 billion KRW and an operating profit of 15.9 billion KRW. In particular, operating performance increased by about 1.5 times compared to the same period last year.

Hanmi Pharmaceutical announced its consolidated financial results for the second quarter on the 29th. Sales for the second quarter of this year reached 279.37 billion KRW, up 14.7% from 243.41 billion KRW in the same period last year. Especially, the operating profit of 15.86 billion KRW recorded was a 49.6% increase compared to 10.60 billion KRW in the same period last year. Net profit also rose 43.1% to 8.27 billion KRW from 5.78 billion KRW in the same period last year.

Hanmi Pharmaceutical evaluated that this strong performance was driven by stable prescription sales of its self-developed products along with explosive growth of its local Chinese subsidiary, Beijing Hanmi Pharmaceutical.

Hanmi Pharmaceutical’s major products include the hyperlipidemia treatment combination drug 'Rosuzet,' which recorded sales of 26.9 billion KRW in the second quarter; the hypertension treatment combination drug family 'Amozalatan,' with 28.3 billion KRW; and the gastroesophageal reflux disease treatment 'Esomezol,' which also posted sales of 12.2 billion KRW, maintaining solid growth. In particular, Rosuzet achieved 53.4 billion KRW in sales in the first half of the year, currently holding the highest sales among domestic drugs.

Based on last year’s performance, Hanmi Pharmaceutical’s 12 blockbuster products with prescription sales exceeding 10 billion KRW (▲Rosuzet ▲Amozalatan ▲Esomezol ▲Amozalatan Plus ▲Amodipine ▲Hanmi Tams ▲Naxozol ▲Rovelito ▲Hyalumini ▲Canitil ▲Lavondi ▲Pidoglu) continued to grow steadily, resulting in a 13.8% increase in prescription sales compared to the first half of last year and securing the number one position in the domestic outpatient prescription market for the first half of the year. Hanmi Pharmaceutical, which has held the top spot in the domestic outpatient prescription market for three consecutive years since 2018, is expected to maintain its leading position this year as well.

Beijing Hanmi Pharmaceutical, which experienced sluggish performance last year due to the impact of COVID-19, posted sales of 59.5 billion KRW in the second quarter, growing 119.9% compared to the same period last year. Combined with the first quarter, the first half sales recorded the highest ever, marking a complete turnaround. One of its key products, the expectorant 'Itanjing,' showed sales of 19.4 billion KRW, a 2678% increase year-on-year; the pediatric electrolyte solution 'Mami Ai' recorded 13.6 billion KRW; and the laxative 'Litong' posted sales of 15 billion KRW.

Hanmi Science, the holding company of the Hanmi Pharmaceutical Group, also maintained stable management performance by achieving sales of 235.3 billion KRW, operating profit of 13.7 billion KRW, and net profit of 10.8 billion KRW in the second quarter on a consolidated accounting basis. Hanmi Science’s operating profit increased by 44.8% and net profit by 36% compared to the previous year.

Woosung Su, CEO of Hanmi Pharmaceutical, said, “Based on Hanmi’s creativity, innovation, and spirit of challenge that turn crises into opportunities, we continue sustainable management unique to Hanmi, where the solid growth of competitive improved and combination drugs, stable performance of subsidiaries, and research and development (R&D) for innovative new drugs form a virtuous cycle. We will steadfastly uphold Hanmi Pharmaceutical’s philosophy and vision to advance globally by developing our technology.”

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