Hanmi Pharmaceutical announced on the 4th that its sales for last year reached 1.4955 trillion won, achieving the highest sales in history. The sales growth was driven by independently developed improved and combination drugs such as the hyperlipidemia combination drug "Rosuzet" and the antihypertensive combination product line "Amosartan Family."
However, compared to the previous year, sales increased by 0.3% (4.6 billion won), while operating profit and net profit decreased. Operating profit decreased by 2% (4.5 billion won) from the previous year to 216.2 billion won, and net profit fell by 13.2% (21.9 billion won) to 143.5 billion won. Last year, the operating profit margin was 14.5%, the highest level in the domestic pharmaceutical industry. The company invested 20.98 billion won in research and development, which corresponds to 14% of sales.
In the fourth quarter of last year, the company's sales and operating profit were 351.6 billion won and 30.5 billion won, respectively, both down 70.8 billion won and 39.6 billion won from the same period last year.
Regarding the decline in fourth-quarter performance compared to the previous year, a company official noted, "In the fourth quarter of last year, the company was affected by uncontrollable factors such as the baseline effect from 'milestones received from MSD,' delay in flu epidemics, and prolonged conflicts in medical treatment."
Among the major products, the prescription sales of the hyperlipidemia combination drug "Rosuzet" rose by 17.6% from the same period last year, recording 210.3 billion won. The antihypertensive combination product line "Amosartan Family" also generated sales of 146.7 billion won last year. The company explained that it maintained the record for the highest number of blockbuster products, with 20 types generating over 10 billion won in sales during the last year.
Prescription sales outside of hospitals also made a significant contribution to the performance. Hanmi Pharmaceutical's growth rate for outside prescriptions compared to the previous year is 7.1%. The company set a record for '7 consecutive years as the top outside prescription sales company in South Korea (based on UBIST)' last year.
Beijing Hanmi Pharmaceutical, the company's local subsidiary, recorded cumulative sales of 385.6 billion won, operating profit of 82.2 billion won, and net profit of 74.2 billion won over the last year. After breaking the 300 billion won mark in annual sales for the first time in 2022, Beijing Hanmi maintained a steady growth trend for three consecutive years. However, in the fourth quarter of last year, sales temporarily slowed down due to delays in respiratory disease epidemics and the baseline effect of mycoplasma pneumonia.
Hanmi Pharmaceutical plans to enhance the virtuous cycle structure of investing profits gained from self-developed products into new drug research and development, and will continue to release competitive new products. The company is preparing for the launch of the next-generation improved combination drug, dubbed 'post-Rosuzet.'
In the research and development institutional sector, the company is accelerating the development of global innovative drugs with a differentiated strategy incorporating new modalities. Last year, research results on 39 innovative drugs in the fields of cancer, obesity metabolism, and rare diseases were announced at several global conferences.
Hanmi Pharmaceutical emphasized that clinical and non-clinical development of projects under the H.O.P (Hanmi Obesity Pipeline) project, including the obesity treatment drug "Epeglenatide," which is targeted for launch in the second half of next year, is progressing smoothly, and meaningful advancements for new drugs are expected starting this year.
Hanmi Pharmaceutical CEO Park Jae-hyun said, "This year, we will promote quick management stabilization and realize innovation and leaps in all business areas," adding, "We will strive to transform into a research and development-centered pharmaceutical and bio company leading the global healthcare market, further enhancing corporate value to repay shareholders' expectations and support."