Boryeong Achieves Record Quarterly Sales of 172.2 Billion KRW in Q2 with Growth Across All Sectors Including Hypertension and Anticancer Drugs

[Asia Economy Reporter Lee Gwanju] Boryung (formerly Boryung Pharmaceutical) announced on the 27th that its separate basis sales for the second quarter of this year were 172.2 billion KRW, and operating profit was 14 billion KRW on a provisional basis. This represents the highest quarterly performance ever, with increases of 21.4% and 64.3% respectively compared to the previous year.

The company analyzed that this strong performance was due to balanced growth across all sectors, including the establishment of a stable profit structure based on a portfolio of specialty drugs focused on chronic diseases and the recovery of the contract manufacturing business following the reopening (resumption of economic activities).

For the entire first half of the year, sales reached 342.7 billion KRW and operating profit was 32.7 billion KRW (based on separate financial statements), continuing significant growth with sales and operating profit increasing by 23% and 47% respectively compared to last year.

Boryung’s flagship product, the hypertension drug Kanarb family, achieved sales of 32.6 billion KRW in the second quarter, a 21% increase year-on-year, offering various treatment options based on a total lineup of six types including the single agent Kanarb (active ingredient: Pimasartan). The anticancer drug segment recorded sales of 36.4 billion KRW, a 60% increase compared to the previous year.

To diversify its anticancer drug portfolio, Boryung began exclusive sales last year of Samfenet (active ingredient: Trastuzumab) and Onbevzi (active ingredient: Bevacizumab), anticancer biosimilars from Samsung Bioepis. It also started co-marketing Grasin (active ingredient: Filgrastim) and Neulasta (active ingredient: Pegfilgrastim), neutropenia treatments that ranked number one in prescriptions domestically and internationally, with Korea Kyowa Kirin. In the second quarter of this year, sales reached 1.6 billion KRW for Samfenet, 4.5 billion KRW for Onbevzi, 4.4 billion KRW for Grasin, and 8.7 billion KRW for Neulasta, maintaining steady growth.

The CNS (central nervous system) pharmaceutical business also performed well in the second quarter. Centered on the schizophrenia treatment Zyprexa (active ingredient: Olanzapine), acquired last year through the LBA strategy, Boryung achieved sales of 6.5 billion KRW in the CNS sector, a 163% increase year-on-year. The contract manufacturing business also recorded its highest quarterly sales ever at 15.6 billion KRW in the second quarter.

The diabetes treatment Trulicity (active ingredient: Dulaglutide), which recorded sales of 47 billion KRW last year, grew 19% year-on-year, and the over-the-counter brand Yonggaksan benefited from COVID-19 demand, achieving sales of 3.6 billion KRW in the quarter, a 42% increase compared to the same quarter last year. Jang Doohyun, CEO of Boryung, said, “We will focus on establishing a stronger profit generation base by leveraging steady growth momentum, increasing the proportion of proprietary products, and expanding our portfolio.”