Chong Kun Dang Obtains 'AA-' Credit Rating from Korea Ratings... "Top Domestic Pharmaceutical Company"

[Asia Economy Reporter Seo So-jung] Chong Kun Dang (CEO Kim Young-joo) announced on the 18th that it received excellent credit ratings and outlooks of 'AA- (Stable)' and 'A+ (Positive)' from Korea Ratings and NICE Credit Rating, respectively, both domestic credit rating agencies.

Chong Kun Dang's recent credit ratings and outlooks comprehensively reflect the excellent business stability considering its product portfolio and research and development capabilities, its strong financial structure with virtually no debt, and the expectation of continued solid profitability.

Chong Kun Dang surpassed annual sales of 1 trillion KRW for the first time in 2019 and recorded sales of 1.303 trillion KRW last year, a 21% increase compared to the previous year despite the COVID-19 crisis. The company invests more than 10% of its annual sales in research and development, pursuing the development of innovative new drugs, improved new drugs, and biopharmaceuticals.

Currently, treatments such as the dyslipidemia drug 'CKD-508', Charcot-Marie-Tooth disease drug 'CKD-510', bispecific antibody for cancer 'CKD-702', and COVID-19 treatment 'Napabeltan' are undergoing clinical trials domestically and internationally.

A representative of Chong Kun Dang stated, "The AA- credit rating is the highest rating among domestic pharmaceutical companies and recognizes Chong Kun Dang's financial soundness, business competitiveness, and growth potential," adding, "We will establish a virtuous cycle structure of sales expansion and research and development achievements to strengthen Chong Kun Dang's business competitiveness."

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