▷ Daewoong: skyrocketing performance in the third quarter, operating profit of 20 …

03.11.2021 – 03:16

Daewoong Pharmaceutical Co., Ltd

Seoul, South Korea, Jan. 28 / PRNewswire /

  • Further development of Nabota and the prescription sector … KRW 290.6 billion in sales and KRW 22.7 billion in operating income
  • Expansion of the growth dynamic with the market launch of Fexuprazan in Korea and Nabota in Europe next year

Daewoong Pharmaceutical (Daewoong) (CEO Sengho Jeon) announced its management performance (consolidated) in the third quarter of 2021.

Sales amounted to KRW 290.6 billion, an increase of 5% year-on-year. Operating income and net income are KRW 22.7 billion and KRW 12 billion, respectively, an increase of almost four times year over year. When comparing the cumulative operating income up to the third quarter, Daewoong recorded an increase from 8.3 billion KRW to 63.4 billion KRW, a year-on-year increase of 7.6 times.

Daewoong posted operating income of KRW 20 billion for three consecutive quarters and is expected to reach nearly KRW 90 billion this year. In the third quarter, prescription drug (ETC) exports reached nearly KRW 200 billion, further demonstrating Daewoong’s status as a leader in the ETC sector. Nabota also had sales of KRW 20 billion. Strong growth is also expected here. Over-the-counter drugs (OTC) have also seen success in the area of ​​healthy functional foods. Based on the consolidation, Daewoong posted records of KRW 265.1 billion in sales and KRW 23.9 billion in operating income.

Revenue for ETC was KRW 174.9 billion in the third quarter of the year before last and KRW 188.9 billion in the same quarter last year. Revenue in the ETC segment rose again by 4.1% in the third quarter of this year, reaching a record KRW 196.7 billion. While the overall considerable sales were maintained, Daewoong’s products with high profitability such as Diabex, Crezet and Luphere were greatly expanded, resulting in high operating income. Third quarter cumulative sales increased 8% year over year.

Nabota’s third quarter revenue doubled from KRW 11.3 billion to KRW 20.9 billion. Sales also continued to show the usual growth trend in the major distribution channels (ie in the US and Korea) and achieved high results in Brazil, Thailand and Mexico. Third quarter cumulative sales increased 85.7% year over year.

In the OTC sector, sales increased by 3.3% to KRW 30 billion compared to KRW 29.1 billion in the third quarter of the previous year. Traditional OTC such as Ursa (OTC) and Impactamin have seen steady sales, while sales of healthy functional foods have increased.

Daewoong expects to be able to further strengthen its growth momentum with the new drugs that will come onto the market next year. Since Fexuprazan and Nabota have proven themselves with their considerable operational value, they will be launched in Korea and Europe next year. The technology for fexuprazane has already been exported to the tune of KRW 1.1 trillion worldwide, and Nabota is the only botulinum toxin in Asia to be approved by the US Food and Drug Administration (FDA). It is therefore planned to submit a license application for biologics (BLA) in China this year. The clinical trials for treatment indications in the US are also proceeding smoothly.

Sengho Jeon, CEO of Daewoong, stated: “Continuous innovation in research and development, investments and sales expansion based on the four-phase strategy of marketing review will lead to improved performance. We plan to further strengthen our growth momentum by joining Nabota in Europe and simultaneously launch fexuprazane in Korea, where technology exports have exceeded KRW 1 trillion. “

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Press contact:

Cheolheon Park
[email protected]

Original content from: Daewoong Pharmaceutical Co., Ltd, transmitted by news aktuell


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