Sales increased by 12.6% to 361.7 billion KRW
Record quarterly performance since 2015
Beijing Hanmi Q1 operating profit up 21% YoY
Hanmi Pharm recorded an earnings surprise in the first quarter. Along with strong sales of key products, Beijing Hanmi's sales surpassed 100 billion KRW, achieving the highest quarterly performance since 2015.
Hanmi Pharm announced on the 26th that its consolidated sales for the first quarter of this year were preliminarily estimated at 361.7 billion KRW, operating profit at 60.5 billion KRW, and net profit at 49.6 billion KRW. Compared to the same period last year, sales grew by 12.6%, operating profit by 47.9%, and net profit by 98.1%. In the first quarter, 45.7 billion KRW, equivalent to 12.6% of sales, was invested in research and development (R&D).
A Hanmi Pharm official explained the first quarter results by saying, "Excluding the period when profits surged sharply due to new drug licensing achievements in 2015, this is the highest quarterly performance ever recorded."
Based on improved and combination new drugs such as Rosuzet and the Amozalatan family, Hanmi Pharm achieved 202 billion KRW in out-of-hospital prescription sales in the first quarter, a 4% increase compared to the same period last year. The out-of-hospital prescription sales of the combination drug for dyslipidemia treatment, 'Rosuzet,' grew by 17.8% to 38.5 billion KRW, and the combination drug group for hypertension treatment, 'Amozalatan family,' recorded 33.2 billion KRW, a 4.1% increase.
In particular, the growth of Beijing Hanmi, Hanmi Group's local subsidiary in China, significantly contributed to Hanmi Pharm's strong first quarter performance. Beijing Hanmi posted sales of 111 billion KRW in the first quarter, surpassing 100 billion KRW in quarterly sales for the first time since its establishment. Operating profit and net profit for the same period were 30.8 billion KRW and 27.9 billion KRW, respectively. Sales increased by 17.1% year-on-year, while operating profit and net profit grew by 21.1% and 21.9%, respectively.
Beijing Hanmi's flagship products, the children's digestive medicine 'Mami Ai,' grew by 31.6% compared to the same period last year, while the constipation medicine 'Litong' and cough and phlegm medicine 'Ianping' grew by 40% and 174.8%, respectively.
Hanmi Science, the holding company of Hanmi Group, preliminarily recorded consolidated sales of 291.3 billion KRW, operating profit of 31.3 billion KRW, and net profit of 27.1 billion KRW in the first quarter. Hanmi Science completed its merger with Hanmi Healthcare, a Hanmi Group affiliate, last year.
A Hanmi Group official said, "All subsidiaries of the group are continuing solid growth centered on the holding company Hanmi Science," adding, "In the 50th anniversary year of Hanmi Group, we will further strengthen our bold challenge toward becoming a pharmaceutical powerhouse as a pioneer leading the global healthcare market."
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