Dongkook Pharmaceutical announced on the 15th that it achieved its highest-ever sales performance as both sales revenue and operating profit increased compared to the same period last year in the first half of 2024.
Exterior view of Dongkook Pharmaceutical headquarters in Gangnam-gu, Seoul [Photo by Dongkook Pharmaceutical]
According to the consolidated financial statements disclosed by Dongkook Pharmaceutical in its semi-annual report released the previous day, the company recorded sales of 400.35881 billion KRW and operating profit of 40.23540 billion KRW in the first half of this year, marking increases of 9.2% and 24.9%, respectively, compared to the same period last year. For the second quarter alone, sales reached 203.53792 billion KRW and operating profit was 19.22183 billion KRW, which also represent increases of 9.5% and 48.9% compared to the second quarter of last year.
The company attributed this growth in performance to "improved efficiency in selling and administrative expenses due to increased sales revenue." In particular, the diversification of distribution channels in the healthcare business division is evaluated to have contributed to profitability improvement.
By business division, balanced growth was observed across all sectors including the Over-The-Counter (OTC) division, Ethical Therapeutics (ETC) division, overseas business division, healthcare business division, and Dongkook Life Science (subsidiary).
In the OTC division, growth was driven by existing brands such as the Madecassol series, Oramedi (a treatment for stomatitis), and Caritopoten, along with newly launched products. Notably, Caritopoten, a prostate hyperplasia symptom improvement agent being developed as a growth engine, showed a high growth rate. The company plans to continue growth through increased demand for existing brands, nurturing Memorein, a new growth engine for memory decline improvement, and launching new products.
In the ETC division, despite the drug price reductions in September last year and the price cuts for injections and syrups in January this year, growth momentum has been maintained. Growth was led by products such as Lorelin Depot Injection, a gonadotropin-releasing hormone agonist injection, Tenelican for diabetes treatment, and the dyslipidemia combination drugs Atovanduo and Pitaron F.
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