Kyungdong Pharmaceutical, 1Q Sales of 45.1 Billion KRW... "Stabilization of Marketing Agency System"

Kyungdong Pharmaceutical's first-quarter sales reached the highest level since the first quarter of 2023, driven by the stabilization effect of the marketing agency system.

On the 16th, Kyungdong Pharmaceutical announced that its consolidated sales for the first quarter amounted to 45.1 billion KRW, a 20% increase compared to the same period last year. Operating losses significantly improved from 4.1 billion KRW to 800 million KRW during the same period. Net profit turned positive, recording 1.3 billion KRW due to gains from financial product valuations and disposals.

With the stabilization of the marketing agency system introduced last year, profitability improved alongside strong top-line growth this quarter. Strong sales of the flagship product, the Geunalen series, and the newly launched diabetes treatment also contributed to the sales expansion.

In particular, efforts to reduce costs and improve management efficiency to secure profitability proved effective, resulting in a significant improvement in the cost of sales ratio and selling and administrative expense ratio compared to the same period last year.

A company official stated, "We achieved record sales due to the expansion of the sales network following the introduction of the marketing agency system and the effect of new product launches. We expect to achieve continuous top-line growth and profitability improvement this year by enhancing sales competitiveness, expanding market share, and streamlining production management systems."

Meanwhile, Kyungdong Pharmaceutical is preparing mid- to long-term growth engines through joint development and investment with bio ventures. On the 9th, the company signed a joint development contract for the obesity and diabetes improved new drug ‘AUL009’ with Owl Bio, a specialist company in obesity treatment. Through this, they secured a pipeline for a one-month long-acting injectable for obesity and diabetes treatment.

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