HLB PAHRMA succeeded in turning its operating profit to the black last year.
HLB PAHRMA noted on the 12th that its operating profit last year was 1.474 billion won, achieving a turnaround compared to the previous year. The operating loss for 2023 was around 1.9 billion won.
Last year, sales increased by 0.8% compared to the previous year, recording 137.082 billion won.
The company explained that improving the profit and loss structure by institutional sector and reducing expenses were effective strategies for enhancing performance.
Park Jae-hyung, CEO of HLB PAHRMA, said, "Despite the recent challenges posed by the difficult external economic conditions, we succeeded in turning our profits to the black through proactive business restructuring, cost reduction, and strengthening capabilities by institutional sector."
The company is currently conducting a project to convert its specialized pharmaceuticals, which have been entrusted to third parties for production, into in-house production starting last year. As a result, it explained that it was able to significantly reduce the manufacturing expenses of specialized pharmaceuticals. The marketing of health functional foods was also strategically optimized to reduce expenses.
The company emphasized that it is continuing its sales growth by expanding its product line, launching 17 new products last year. HLB PAHRMA's infection treatment drug "Cephaclor Capsules" ranked first in external prescriptions sales for Cephaclor starting in the fourth quarter of last year.
HLB PAHRMA is actively pursuing a strategy of acquiring license rights for competitive generics and is expanding its business through co-marketing of promising products from other companies.
CEO Park stated, "This year, we aim to secure the future growth engines of the company based on the sales we have built so far by advancing long-acting injection development and the construction of the Hyangnam plant," adding, "We will create an opportunity for further advancement as a mid-sized pharmaceutical company."