Shinshin Pharmaceutical Surpasses 100 Billion KRW Annual Sales for the First Time: "Strong Sales of Key Products"

Transdermal drug delivery platform company Shinshin Pharmaceutical has achieved a historic milestone by surpassing annual sales of 100 billion KRW for the first time.

Shinshin Pharmaceutical announced on the 14th through a public disclosure that its consolidated sales last year reached 102.6 billion KRW, an increase of 11.60% compared to the same period the previous year. During the same period, operating profit and net profit were 6 billion KRW and 4.6 billion KRW respectively, marking increases of 10.65% and 6.68% compared to the previous year.

The strong performance of Shinshin Pharmaceutical is attributed to increased domestic sales and exports of its core products. Sales of pharmaceuticals, including flagship products such as ‘Arex’ and ‘Shinshin Paf’, have been continuously growing. Exports have rapidly increased, especially in the Southeast Asian market, as well as domestic sales. The premium product line launched in the second half of the year also successfully entered the market.

Last October, a pharmaceutical supply contract worth 5.4 million USD was signed with Sinopharm, China’s top pharmaceutical company, which has been reflected in sales and is expected to contribute to growth this year. Shinshin Pharmaceutical secured a large-scale pharmaceutical export contract through Sinopharm’s proactive proposal. Since the contract was signed after confirming high demand for Shinshin Pharmaceutical products in China, additional contracts are also anticipated. China is the world’s second-largest pharmaceutical market, with a market size exceeding 300 trillion KRW as of last year.

As a new growth engine, Shinshin Pharmaceutical is also developing therapeutics applying new drugs and next-generation microneedle formulations. The company is developing treatments for various aging-related diseases such as dementia, Parkinson’s disease, sarcopenia, insomnia, and overactive bladder. Utilizing transdermal drug delivery technology (TDDS), it is accelerating the commercialization of the world’s first microneedle pharmaceuticals. It has completed the establishment of its own research facilities for coated and dissolvable microneedles and plans to apply these to treatments for obesity and hair loss.

A Shinshin Pharmaceutical representative said, “With increased domestic and international pharmaceutical sales, we surpassed 100 billion KRW in annual sales for the first time since our founding, achieving simultaneous growth in sales and profits. We will accelerate performance growth this year through the commencement of pharmaceutical exports to China and the expansion of sales of our premium product line.”

He added, “As the domestic aging rate rapidly increases, the market for aging-related disease treatments is growing quickly. We will intensify the development of various new drugs and actively leverage premiums for existing elderly patients to become a leading company in aging-related disease therapeutics.”