JW Jungwoo Pharmaceutical Achieves Record 1Q Performance... Growth in Original Pharmaceuticals

Operating Profit of 21.5 Billion KRW... Up 52.3% YoY
Sales Increased 11.1% to 171.4 Billion KRW

JW Pharmaceutical achieved record-high sales and operating profit for the first quarter of this year.

JW Pharmaceutical Headquarters. [Photo by JW Pharmaceutical]

JW Pharmaceutical announced on the 10th that it recorded sales of 171.4 billion KRW and operating profit of 21.5 billion KRW on an individual basis for the first quarter of this year. Compared to the same period last year, sales increased by 11.1% and operating profit rose by 52.3%. The net profit for the first quarter was 16.8 billion KRW, up 57.8% year-on-year.

These results represent JW Pharmaceutical's highest sales and operating profit for any first quarter in its history. The company explained that the increase in operating profit in the first quarter of this year was due to the sales growth of original pharmaceuticals that secured product and cost competitiveness.

Both the prescription drug (ETC) and over-the-counter (OTC) business sectors posted solid performances. Sales in the prescription drug sector for the first quarter of this year reached 136.8 billion KRW, a 7.5% increase from 127.2 billion KRW in the first quarter of last year. Looking at sales by major product groups, ‘Rivarozet’, a modified new drug with a combination formula for dyslipidemia, recorded sales of 13.5 billion KRW, growing 187.4% compared to the same period last year. The Rivarozet product line (Rivaro, Rivarozet, Rivarov), including the statin monotherapy ‘Rivaro’, posted sales of 34.1 billion KRW, up 34.0% from the same period last year.

Additionally, the high-dose iron injection ‘Perinject’ increased by 28.8% to 5.9 billion KRW, the enteral nutrition solution ‘Anchor’ grew by 16.8% to 7.7 billion KRW, and the hemophilia A treatment ‘Hemlibra’ rose 33.9% to 1.6 billion KRW in sales.

Sales in the infusion solution sector reached 43.8 billion KRW, a 6.5% increase compared to the first quarter of last year. The high-value-added total parenteral nutrition solution ‘Winnerf’ achieved sales of 16.3 billion KRW, up 20.7%.

Sales in the over-the-counter drug sector for the first quarter of this year were 14.5 billion KRW, a 22.7% increase year-on-year. By product, the eye care brand ‘Friends’ recorded sales of 3.7 billion KRW, the wound care band ‘HiMom’ posted 2.2 billion KRW, and the sterile saline solution ‘Cleancl’ achieved 2.1 billion KRW in sales.

The business-to-business (B2B) sector also recorded sales of 10.4 billion KRW, a 43.4% increase compared to the first quarter of last year. The company explained that this was influenced by increased contract manufacturing organization (CMO) sales of Dutasteride tablets and Itraconazole.

A JW Pharmaceutical official said, "The new product Rivarozet is experiencing high growth, and with the expansion of insurance coverage for the hemophilia treatment Hemlibra starting in May this year, the growth trend in performance is expected to continue. We will focus even more on generating innovative new drug research and development (R&D) outcomes based on a stable financial structure achieved through improved profitability."