Hanmi Pharm Reports 1.49 Trillion KRW in Sales Last Year with 14.8% Operating Profit Margin

Hanmi Pharm announced on the 2nd that it achieved consolidated sales of KRW 1,490.9 billion, operating profit of KRW 220.7 billion, and net profit of KRW 159.3 billion last year. Sales increased by KRW 159.4 billion and operating profit by KRW 62.6 billion compared to the previous year, with an operating profit margin reaching 14.8%.

Hanmi Pharm stated that the milestone income from the entry into Phase 2b clinical trials of MASH (metabolic disease-related nonalcoholic steatohepatitis, formerly NASH) treatment 'Epinofegdutide,' which was licensed out to MSD, along with the continuous growth of self-developed improved and combination drugs, significantly contributed to the strong performance last year.

Hanmi Pharm, which achieved the No. 1 domestic outpatient prescription sales for six consecutive years, showed a 10% growth rate in the outpatient prescription sector alone compared to the previous year. Sales included KRW 178.8 billion from Rosuzet (dyslipidemia), KRW 141.9 billion from the Amozaltan family (hypertension, etc.), KRW 61.6 billion from Esomezol (gastroesophageal reflux disease treatment), KRW 42.5 billion from Palpal (erectile dysfunction), a non-reimbursed drug, and KRW 21.7 billion from Gugu (erectile dysfunction and benign prostatic hyperplasia).

Hanmi Pharm’s local subsidiary in China, Beijing Hanmi Pharm, also led Hanmi Pharm’s strong performance by recording a record-high sales close to KRW 400 billion last year. Sales of respiratory disease drugs such as Ianping and Itanjing significantly increased due to the spread of Mycoplasma pneumonia in China. Beijing Hanmi Pharm achieved sales of KRW 397.7 billion, operating profit of KRW 97.8 billion, and net profit of KRW 78.7 billion last year.

Hanmi Pharm’s growth trend is expected to continue. This is because it is continuously expanding its lineup of self-developed combination drug products, such as introducing a new combination drug (Raspirin) that combines aspirin and PPI agents to the prescription market. It is also operating an innovative drug pipeline with more than 30 candidates.

In particular, it is accelerating R&D in areas such as the full-cycle metabolic and obesity project 'H.O.P (Hanmi Obesity Pipeline),' targeted and anticancer drugs, and innovative drugs for rare diseases. Last year, Hanmi Pharm reorganized its R&D organization around 'diseases' and is challenging innovation by integrating synthesis, bio, and new technologies.

A Hanmi Pharm official said, "We are solidifying an ideal management model that focuses on investing profits gained from self-developed products into future R&D," adding, "With leadership strengthened at the 50th anniversary, a solid organization, and the harmony and cooperation of capable executives and employees, we will present a role model for pharmaceutical and bio companies representing Korea."

Meanwhile, Hanmi Science, the holding company of Hanmi Group, recorded consolidated sales of KRW 1,247.9 billion, operating profit of KRW 125.1 billion, and net profit of KRW 115.8 billion in 2023.