Samchundang Pharmaceutics Turns to Operating Profit in Q1 on Eylea Biosimilar Growth

Eylea Biosimilar Records 3.8 Billion Won in Quarterly Operating Profit

Samchundang Pharmaceutics announced on the 18th that, on a standalone basis, it recorded sales of 45.5 billion won and operating profit of 2.4 billion won in the first quarter of this year. Compared to the same period last year, sales increased by 25.0%, and operating profit turned to the black from an operating loss of 300 million won in the first quarter of last year.

SamChunDang Pharmaceutical company logo image. SamChunDang Pharmaceutical

The Eylea biosimilar business posted sales of 10.5 billion won and operating profit of 3.8 billion won in the first quarter. This is similar to the fourth quarter of last year, when it recorded sales of 10.7 billion won and operating profit of 4.7 billion won.

The company explained that the first quarter results reflected the impact of overseas contract manufacturing organization (CMO) facility inspections and logistics disruptions. Production was halted from mid-February to the end of March due to a regular GMP inspection of the CMO. In addition, the company explained that export volumes to Europe temporarily decreased due to logistics disruptions stemming from the conflict between Iran and the United States. The company stated that export volumes will be sequentially reflected from the second quarter as supply schedules normalize.

An official from Samchundang Pharmaceutics said, "After the launch in Europe at the end of November last year, profit-sharing revenue was initially limited, but as local prescriptions expand, related revenues are expected to increase."

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