Hanall Biopharma Q3 Sales Reach 29.6 Billion KRW, Up 16% Year-on-Year

[Asia Economy Reporter Lee Gwan-joo] HanAll BioPharma announced on the 26th that its separate basis sales for the third quarter of this year reached 29.6 billion KRW, a 16% increase compared to the same period last year. Operating profit was 1.1 billion KRW, and net profit was 1.2 billion KRW.

The increase in pharmaceutical sales and contract manufacturing sales drove the strong performance. In pharmaceutical sales, new products such as the type 2 diabetes treatment ‘Glucopri’, gastroesophageal reflux disease treatment ‘Absito’, and probiotic products ‘Biotop Forte/Dual’, as well as existing major products like ‘Normix’ and ‘Eligard’, saw increased sales.

Based on sales growth, the company is continuously strengthening its investment in research and development (R&D) for new drug development. Last month, HanAll received approval from the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) to enter Phase 3 clinical trials for the autoimmune disease treatment antibody drug ‘Batoclimab’ targeting myasthenia gravis, with full-scale clinical entry planned for the second half of this year.

Additionally, HanAll’s U.S. partner, Immunovant, plans to initiate Phase 3 clinical trials for thyroid eye disease (TED) and Phase 2b clinical trials for chronic inflammatory demyelinating polyneuropathy (CIDP) within this year.

Seungwon Jung, CEO of HanAll BioPharma, stated, “HanAll BioPharma is committed to developing global innovative new drugs based on solid pharmaceutical business sales, and will strengthen the ‘virtuous cycle’ structure of reinvesting its own profits into R&D.”

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