HanAll Biopharma, 3Q Sales 33 Billion KRW... Operating Profit Down 32%

HanAll Biopharma announced on the 25th that its separate Q3 provisional operating results were sales of 32.969 billion KRW and operating profit of 756 million KRW. Sales increased by 11.2% compared to the same period last year, but operating profit decreased by 31.9%. Cumulative sales up to Q3 grew by 29.2% to 103.192 billion KRW, and operating profit also increased by 707.2% to 6.466 billion KRW.

HanAll Biopharma logo
[Photo by HanAll Biopharma]

The company explained that sales of key products such as the enteritis treatment 'Normix', prostate cancer treatment 'Eligard', and probiotics 'BioTop' recorded a growth rate of over 26%, resulting in operating sales increasing by 15% year-on-year to 28.6 billion KRW. It also conveyed its goal to continue double-digit growth through a specialized strategy for hair loss treatments such as 'Hairgro', which has a separate production line.

In the new drug business, partner Immunovant secured positive results in September from the Phase 1 single ascending dose study and multiple ascending dose study at a low dose (300 mg) of the second FcRn antibody 'HL161ANS (IMVT-1402)'. The company also achieved open collaboration results by entering the Canadian Phase 1 clinical trial for the Parkinson's disease treatment 'HL192 (ATH-399A)' with US-based Neuron Pharmaceuticals and Daewoong Pharmaceutical.

Seungwon Jeong, CEO of HanAll Biopharma, said, “Through stable cash flow achieved by the growth of the domestic pharmaceutical business, we are expanding cooperation not only in our own research and development but also with global innovative companies,” adding, “We will lead the industry as a global innovative new drug company by reinvesting our own profits into research and development in a virtuous cycle.”

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