Daewoong and Daewoong Pharmaceutical Hold Regular Shareholders' Meeting... "Strengthening Growth Engines"

Focus on Strengthening Growth Engines with Enblo Launch, Pexuclu Growth, and Nabota Exports

Daewoong and Daewoong Pharmaceutical announced on the 29th that they held their regular shareholders' meetings at the Daewoong Pharmaceutical headquarters in Samseong-dong, Gangnam-gu, Seoul.

Jeon Seung-ho, CEO of Daewoong Pharmaceutical, is speaking at the 21st Daewoong Pharmaceutical Annual General Meeting of Shareholders held on the 29th.
[Photo by Daewoong Pharmaceutical]

At Daewoong's 63rd shareholders' meeting, the company reported improved performance compared to the previous year, recording consolidated sales of 1,697.3 billion KRW and operating profit of 207.3 billion KRW. Additionally, Song Ki-ho, Vice President of Daewoong, was appointed as an inside director, and Jeon Woo-bang was reappointed as auditor. For outside directors, Choi In-hyuk, a management advisor at Naver, was newly appointed. However, the proposal for stock dividends was rejected.

Yoon Jae-chun, CEO of Daewoong, stated, "Despite the challenging conditions last year due to COVID-19, high interest rates, and high inflation, Daewoong, as a global healthcare group leading the improvement of quality of life, achieved excellent management performance centered on Daewoong Pharmaceutical and Daewoong Bio. This year, we will faithfully fulfill the role of the holding company, look ahead to the future of the entire group, and strive for sustainable management, performance creation, and new business growth."

Daewoong Pharmaceutical also held its 21st shareholders' meeting on the same day, reporting record-high consolidated sales of 1,280.1 billion KRW and operating profit of 95.8 billion KRW for 2022. Three agenda items, including the appointment of directors and approval of director remuneration limits, were approved as originally proposed. Daewoong Pharmaceutical newly appointed Park Sung-soo, Vice President of Daewoong Pharmaceutical, as an inside director, and Kim Yong-jin, professor at Seoul National University College of Medicine, as an outside director.

Jeon Seung-ho, CEO of Daewoong Pharmaceutical, said, "We will further strengthen the proven success in new drug development recently demonstrated by Daewoong Pharmaceutical by expanding open innovation and global innovative new drug development. We will enhance future growth engines through expanding the global market share of Nabota, launching the diabetes drug Enblo, and advancing the group’s first drug candidates for pulmonary fibrosis and autoimmune diseases into the global market."

Lee Chang-jae, CEO of Daewoong Pharmaceutical, stated, "Following the successful launch of Pexuclu last year, we will continue high growth this year by achieving Pexuclu’s entry into the 100 billion KRW product category and launching the diabetes drug Enblo."