Daewoong Pharmaceutical Reports 1.153 Trillion KRW in Sales Last Year... Operating Profit Up 424%

[Asia Economy Reporter Lee Chun-hee] Daewoong Pharmaceutical recorded its highest-ever sales last year, driven by the technology export of the gastroesophageal reflux disease (GERD) new drug 'Pexclu Tablet' and strong exports of the botulinum toxin 'Nabota'.

Daewoong Pharmaceutical announced on the 15th that its consolidated financial statements showed annual operating results for last year with sales of 1.153 trillion KRW and operating profit of 88.9 billion KRW. Sales grew by 9.2% compared to the previous year, while operating profit surged by an impressive 423.6%. Net profit also grew by 31.1%, reaching 31.6 billion KRW. On an individual basis, sales were 1.0552 trillion KRW, operating profit 95.5 billion KRW, and net profit 40.5 billion KRW.

Daewoong Pharmaceutical evaluated that the technology export success of Pexclu Tablet, which received new drug approval at the end of last year, the full-scale export of Nabota, and the stable growth of highly profitable ethical drugs (ETC) drove the company's sales growth and improvement in operating profit margin last year.

The ETC sector of Daewoong Pharmaceutical grew by 9.7% to 778 billion KRW last year, up from 709.4 billion KRW the previous year. This steady growth was led by highly profitable in-house products such as the anticancer drug 'Lupier' and the hyperlipidemia treatment 'Crezet'. The company expects the ETC growth trend to accelerate further with the launch of Pexclu Tablet in the first half of this year. The over-the-counter (OTC) sector saw a slight increase to 114.4 billion KRW from 113.3 billion KRW the previous year.

Sales of Nabota reached 79.6 billion KRW last year, a remarkable 57.9% increase from 50.4 billion KRW the previous year. Domestic sales nearly doubled compared to the previous year, and with the resolution of technology-related disputes, overseas sales, mainly in the United States, also increased by more than 60%. Nabota is expanding its market presence by setting quarterly record sales in the United States, the world's largest botulinum toxin market. Daewoong Pharmaceutical plans to launch Nabota in the European and Chinese markets within this year.

Global sales excluding Nabota also grew significantly, reaching 36.9 billion KRW last year, up 149.3% from 14.8 billion KRW the previous year. By signing a technology export contract worth 1.1 trillion KRW for Pexclu Tablet targeting the global anti-ulcer drug markets including the United States and China, the top two markets worldwide, as well as Latin America and the Middle East, Daewoong Pharmaceutical secured a distribution channel to enter the global anti-ulcer drug market.

Jeon Seung-ho, CEO of Daewoong Pharmaceutical, said, “Last year was a year in which Daewoong Pharmaceutical’s continuous investment in research and development (R&D) bore fruit, contributing to society through the development of in-house new drugs and achieving record-high sales.” He added, “This year, we will introduce excellent in-house products such as Pexclu Tablet and Nabota to domestic and international customers, accelerate new drug development through active open collaboration, and simultaneously pursue the company’s growth and value enhancement.”

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