Daewoong Pharmaceutical, Surpasses 300 Billion KRW in Quarterly Sales for the First Time Ever

Daewoong Pharmaceutical Headquarters Building Exterior (Photo by Daewoong Pharmaceutical)

[Asia Economy Reporter Chunhee Lee] Daewoong Pharmaceutical continued its strong sales performance by recording quarterly revenue exceeding 300 billion KRW for the first time.

Daewoong Pharmaceutical announced on the 31st that its separate operating (provisional) results for the third quarter of this year were sales of 301.469 billion KRW, operating profit of 30.312 billion KRW, and net profit of 21.59 billion KRW. Compared to the same period last year, these figures increased by 13.7%, 26.7%, and 48.5%, respectively. On a consolidated basis, sales reached 331.893 billion KRW, operating profit was 30.099 billion KRW, and net profit was 21.215 billion KRW.

This is the first time in history that Daewoong Pharmaceutical's quarterly sales have exceeded 300 billion KRW. The company analyzed that growth centered on high-profit products, including the new drug "Pexuclu" launched last July, along with expanded exports of the botulinum toxin (BTX) "Nabota" and favorable exchange rate effects, were key factors.

The ethical drugs (ETC) division recorded sales of 209.5 billion KRW, a 6.5% increase compared to 196.7 billion KRW in the same period last year. Pexuclu, a new drug for gastroesophageal reflux disease, has quickly established itself in the medical market by successfully increasing out-of-hospital prescription performance and market share since its domestic launch. Additionally, sales growth in this division was driven by highly profitable product lines such as the hyperlipidemia treatments "Crezet" and "Litovazet," the gastroesophageal reflux disease treatment "Nexiad," and the anti-ulcer agent "Axid."

BTX Nabota achieved sales of 40.4 billion KRW, a 93.3% increase compared to 20.9 billion KRW in the same period last year. In particular, exports grew by 130.2%, from 14.2 billion KRW to 32.6 billion KRW year-over-year. While expanding market share in the United States, the world's largest market, Nabota was launched in the United Kingdom last month, successfully entering Europe, the world's second-largest market. Sales also increased in Southeast Asia and Latin America, regions with developed cosmetic surgery markets.

The over-the-counter (OTC) division posted sales of 34.8 billion KRW, a 15.9% increase compared to 30 billion KRW in the same period last year. Due to the impact of COVID-19, the antipyretic analgesic "EZN6" grew by 55% year-over-year. The fatigue recovery agent "Urusa" also grew by 10% compared to the same period last year. The moist dressing "Ezyderm" grew by 28% year-over-year, and the company plans to continuously strengthen pharmacy distribution. The health functional foods division grew by more than 40% compared to the same period last year.

A Daewoong Pharmaceutical official said, “Pexuclu has successfully established itself in the market, and Nabota has performed well in the global BTX market, achieving the historic milestone of surpassing 300 billion KRW in quarterly sales for the first time. Since this achievement was led by our in-house developed Pexuclu and Nabota, we consider it even more meaningful and will strive to become a global pharmaceutical company securing competitiveness in various fields.”

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