Hanmi Pharmaceutical Reports Q1 Sales of 390.9 Billion KRW... Export Performance Up 46.7%

Sales Slightly Decreased on a Consolidated Basis
But Clear Growth on a Separate Basis

Hanmi Pharmaceutical Headquarters. Photo by Hanmi Pharmaceutical

On April 29, Hanmi Pharmaceutical announced its preliminary consolidated results for the first quarter of this year, reporting sales of 390.9 billion KRW, operating profit of 59 billion KRW, and net profit of 44.7 billion KRW.

Compared to the same period last year, sales decreased by 3.2%, operating profit by 23%, and net profit by 29.3%. The company explained that these declines were due to temporary effects resulting from the normalization of operations at overseas subsidiaries. Hanmi Pharmaceutical invested 55.3 billion KRW, equivalent to 14.1% of its first-quarter sales, in R&D (research and development) to create future growth engines.

Notably, in the first quarter of this year?the first quarter after the conclusion of the management rights dispute?sales grew by 11.2% compared to the previous quarter.

On a separate basis, excluding overseas subsidiaries, Hanmi Pharmaceutical's sales in Korea reached 295 billion KRW, a 7.3% increase compared to the same period last year. Operating profit and net profit also rose to 47 billion KRW and 40.9 billion KRW, representing increases of 19% and 32%, respectively, year-on-year.

First-quarter outpatient prescription sales (based on UBIST data) reached 268.4 billion KRW, up 3.3% from the same period last year. Since 2018, Hanmi Pharmaceutical has maintained the top position in domestic outpatient prescription sales for seven consecutive years, solidifying its leadership in the Korean prescription drug market.

The first-quarter outpatient prescription sales of 'Rosuzet', a combination drug for dyslipidemia, grew by 11% year-on-year to 54.3 billion KRW. The 'Amozaltan Family' hypertension product line recorded 36.1 billion KRW, and the 'Esomezol Family' gastroesophageal reflux disease product line posted 16 billion KRW in sales. New diabetes products such as the 'Daparon Family' showed rapid growth, with total sales increasing by 80.6% compared to the same period last year.

First-quarter export performance rose by 46.7% year-on-year to 68.2 billion KRW. There was a significant increase in the supply of clinical trial products for epinopegdutide, a new drug candidate for MASH (metabolic dysfunction-associated steatohepatitis) being developed by MSD in the United States. Hanmi Pharmaceutical is focusing on expanding partnerships in growth markets such as the Middle East and Central and South America, in addition to advanced markets like North America and Japan, using these partnerships as a springboard to broaden its collaborative product portfolio.

Beijing Hanmi Pharmaceutical, the local subsidiary in China, recorded consolidated sales of 96.5 billion KRW, operating profit of 11.3 billion KRW, and net profit of 9.9 billion KRW in the first quarter. Despite the base effect from last year's outbreak of infectious diseases such as Mycoplasma pneumonia in China, the company's performance improved compared to the previous quarter, signaling a recovery phase.

Hanmi Pharmaceutical plans to further enhance its virtuous cycle of reinvesting profits from its own developed products into new drug R&D by continuously launching new products that can change treatment paradigms. The company is preparing to launch a next-generation low-dose triple combination antihypertensive, which is drawing attention as the 'post-Rosuzet' product.

In the R&D sector, as a 'specialized new drug development pharmaceutical company', Hanmi Pharmaceutical is accelerating the development of globally innovative new drugs through differentiated strategies that incorporate new modalities. This month, Hanmi Pharmaceutical presented the largest number of research results among Korean pharmaceutical and biotech companies for the third consecutive year at the American Association for Cancer Research (AACR), and in June, the company will present multiple research achievements on next-generation obesity drugs at the American Diabetes Association (ADA).

A Hanmi Pharmaceutical representative stated, "We will achieve greater leaps forward by expanding our global presence based on the solid competitiveness of our core product lines, which have dominated the domestic prescription drug market," adding, "Through steady progress centered on new drug development, we will further enhance our future corporate value and repay the expectations and support of our shareholders."

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