Daewoong·Daewoong Pharmaceutical Shareholders' Meeting... "Efforts for Future Growth in New Businesses"

[Asia Economy Reporter Lee Gwan-ju] Daewoong and Daewoong Pharmaceutical held their regular shareholders' meeting on the 29th at Daewoong Pharmaceutical headquarters in Samseong-dong, Gangnam-gu, Seoul.

At Daewoong's 62nd shareholders' meeting, they reported key performance results including consolidated sales of 1.5114 trillion KRW and operating profit of 182.6 billion KRW for 2021, and among the five agenda items presented, including amendments to the articles of incorporation and director appointments, four were approved as originally proposed.

Daewoong reappointed CEO Yoon Jae-chun as representative director and inside director, and newly appointed outside directors Lee Hoon-seok, corporate legal advisor at the law firm Taepyungyang, and Kang Young-chul, visiting professor at KDI School of Public Policy and Management.

Daewoong CEO Yoon Jae-chun said, "Despite the difficult conditions caused by COVID-19 over the past year, Daewoong Pharmaceutical and Daewoong Bio achieved remarkable management results," adding, "This year, we will focus on the core role of the holding company and strive for sustainable management and new business growth."

Daewoong Pharmaceutical also held its 20th shareholders' meeting, reporting record-high consolidated sales of 1.153 trillion KRW and operating profit of 88.9 billion KRW for 2021, and approved all five agenda items, including amendments to the articles of incorporation, director appointments, and granting stock options, as originally proposed. Additionally, Professor Kim Dae-duk from Seoul National University College of Pharmacy was newly appointed as an outside director.

Daewoong Pharmaceutical CEO Jeon Seung-ho said, "Last year, Daewoong Pharmaceutical confirmed the R&D achievements of its new drug pipeline and global competitiveness through the approval and technology export of the new drug Pexuclu tablets for gastroesophageal reflux disease," adding, "This year, we will continue to promote new drug development through open collaboration, while diversifying the global market and expanding the treatment market for Nabota (U.S. product name Jeuveau), and strengthen future growth engines led by the launch of Pexuclu tablets and approval of Inavogliflozin."