Daewoong Pharmaceutical Reports Q3 Operating Profit of 22.7 Billion KRW, 3.8 Times Higher Than Same Period Last Year

[Asia Economy Reporter Seo So-jeong] Daewoong Pharmaceutical announced on the 27th that its consolidated operating profit for the third quarter of this year was 22.7 billion KRW, 3.8 times that of the same period last year.

During the same period, sales increased by 5% to 290.6 billion KRW, and net profit reached 12 billion KRW, 3.6 times that of the same period last year.

Daewoong Pharmaceutical explained that in the third quarter of this year, its ethical drugs (ETC) business recorded sales approaching 200 billion KRW, and the botulinum toxin product 'Nabota' business performed steadily with sales of 20.9 billion KRW.

ETC sales in the third quarter of this year were 196.7 billion KRW, an increase of 4.1% compared to the same period last year.

Sales in the over-the-counter (OTC) segment recorded 30 billion KRW, up 3.3% from the same period last year. The company reported that traditional OTC products such as 'Urusa' and 'Impactamin' showed steady sales volume.

Seung-ho Jeon, CEO of Daewoong Pharmaceutical, said, "The fruits of continuous research and development (R&D) innovation and investment, and marketing verification based on a four-step strategy for expanding sales are leading to performance growth," adding, "We plan to continuously strengthen growth momentum, spearheaded by the domestic launch of 'Pexuprazan,' which has surpassed 1 trillion KRW in technology exports, next year and the launch of Nabota in Europe."