Daewoong Pharmaceutical Reports Q2 Sales of 293.8 Billion KRW, Achieving Record Quarterly Performance

Prescription Drugs and Nabota Dual Drive
New Drug 'Pexuclu' Sales Materialization
Expecting Continuous Revenue Growth

Daewoong Pharmaceutical exterior.

[Asia Economy Reporter Lee Gwanju] Daewoong Pharmaceutical recorded its highest quarterly performance ever in the second quarter of this year, driven by continuous growth in the ethical drugs (ETC) sector and strong exports of botulinum toxin.

Daewoong Pharmaceutical announced on the 28th that its separate basis sales in the second quarter reached 293.8 billion KRW, and operating profit was 33.6 billion KRW, up 7.6% and 25.8% respectively compared to the same period last year. On a consolidated basis, sales were tentatively estimated at 322.1 billion KRW, and operating profit at 30 billion KRW.

Daewoong Pharmaceutical set new records for quarterly operating profit (on a separate basis) for the first and second quarters this year, and also recorded the highest quarterly sales. First, the ETC sector recorded sales of 205.8 billion KRW, a 5.5% increase compared to the same period last year. Sales of highly profitable product groups such as the hyperlipidemia treatment Crezet, liver function improvement agent Urusa, diabetes treatment Diabex, and antithrombotic Anplone increased by more than 10%, and sales of the diabetes treatment Forxiga, which is distributed by the company, also grew by more than 30%.

Daewoong Pharmaceutical Botulinum Toxin Nabota.

Botulinum toxin product Nabota achieved sales of 37.1 billion KRW, a 60% increase from 23.2 billion KRW in the same period last year. Among these, exports increased by 105%, from 14.2 billion KRW to 29.2 billion KRW. Thanks to increased local market share and awareness, exports to Evolus, the U.S. sales partner, doubled to 21.1 billion KRW, and exports also performed well in Southeast Asia and Latin America. Nabota is scheduled to be launched in major botulinum toxin markets such as Europe, Turkey, and Chile in the second half of the year, so overseas sales are expected to increase further.

Daewoong Pharmaceutical’s newly launched gastroesophageal reflux disease drug Pexuclu tablets, released earlier this month, is expected to be a positive factor in achieving strong performance in the second half. Daewoong Pharmaceutical is accelerating the expansion of Pexuclu tablets’ market share. In the domestic market, the company is actively promoting the unique advantages of Pexuclu tablets to medical professionals nationwide through various channels, while in overseas markets, it has already signed technology export contracts worth 1.1 trillion KRW across 15 countries worldwide and plans to gradually expand the export scope.

Daewoong Pharmaceutical Pexuclu Tablets.

The over-the-counter (OTC) sector recorded sales of 34.3 billion KRW, a 19.9% increase compared to the same period last year. Due to COVID-19, the antipyretic analgesic EasyN6 grew by 45% compared to the same period last year, and Urusa increased by more than 30%, driving sales. Health functional foods also grew by more than 100%, and offline distribution of the liver health specialist brand Enercissle is planned to expand in the second half of the year.

Daewoong Pharmaceutical is strengthening its growth engine by investing 33 billion KRW, equivalent to 11.2% of sales, in research and development, which is producing visible results such as the self-development of Pexuclu tablets. A Daewoong Pharmaceutical official explained, “The expansion of market share and exports of Nabota in major global botulinum toxin markets such as the U.S. led to the achievement of the highest quarterly sales and operating profit ever. We expect that as sales of the gastroesophageal reflux disease drug Pexuclu tablets become visible in the third quarter and Nabota is launched in Europe and other regions, the company’s growth potential and profitability will rise together.”

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