At the Regular Shareholders' Meeting on the 26th,
Daewoong Announces Growth Strategy Centered on New Drug Development and Digital Healthcare
Yoon Jae-chun, CEO of Daewoong, is speaking at the 65th Daewoong Annual General Meeting of Shareholders held on the 26th at Daewoong Pharmaceutical headquarters in Samseong-dong, Gangnam-gu, Seoul. Photo by Daewoong
Daewoong pledged growth this year through new drug development, investment in digital healthcare, and nurturing global talent.
Daewoong announced on the 27th that it held its regular shareholders' meeting on the 26th at its headquarters in Samseong-dong, Gangnam-gu, Seoul. On that day, Yoon Jae-chun, CEO of Daewoong, stated, "Daewoong is changing the market landscape through innovative new drug development, and based on this, we are strengthening a virtuous cycle by actively investing in R&D and discovering new growth engines. Moving forward, we will continue to grow sustainably as a healthcare company competitive on the global stage through new drug development, formulation technology innovation, strategic investments in AI and digital healthcare, and nurturing global talent."
At the 65th shareholders' meeting, Daewoong reported last year's key achievements and an increase in dividends, and approved three out of four agenda items as originally proposed. CEO Yoon Jae-chun was reappointed as an inside director, Park Sung-soo, CEO of Daewoong Pharmaceutical, was newly appointed as an executive director, and outside directors Yoo Seung-shin, former CEO of Helixmith, and Woo Jong-soo, CEO of W Science, were newly appointed. Additionally, the remuneration limits for directors and auditors were set the same as the previous year and approved, while the proposal for stock dividends was rejected.
At this shareholders' meeting, Daewoong doubled its cash dividend from 100 KRW per share to 200 KRW per share. Daewoong has continuously made efforts to enhance shareholder value, including acquiring treasury shares and subsidiary stocks in 2023 and increasing the cash dividend this time.
The meeting also included reports on the performance of Daewoong and its major affiliates. Daewoong achieved record-breaking results last year with consolidated sales of 1.9369 trillion KRW and operating profit of 281.9 billion KRW.
In particular, Daewoong Pharmaceutical achieved a triple crown by growing in all three key indicators with consolidated sales of 1.4227 trillion KRW, operating profit of 147.9 billion KRW, and an operating profit margin of 10.4%. Daewoong Bio, which entered the global CMO (Contract Manufacturing Organization) business, posted its highest-ever sales of 579.6 billion KRW. HanAll Biopharma recorded sales of 138.9 billion KRW, gaining attention in the global market by achieving results in autoimmune disease new drug research and development.
Daewoong is focusing on intractable diseases such as metabolic fibrosis, cancer, and autoimmune diseases, expanding broadly from chemical drugs to bio new drug pipelines. Its first proprietary anticancer candidate and the world's first oral candidate for liver fibrosis treatment were selected as national new drug development projects, proving its technological capabilities. Furthermore, Daewoong is continuously strengthening its global competitiveness through ▲ diversification of next-generation bio new drug pipelines ▲ full-scale CMO business of bone morphogenetic protein 'BMP-2' ▲ development of long-acting injectables and microneedle patches.
Additionally, to enhance global competitiveness, Daewoong has established a talent management system centered on autonomy, growth, and performance, creating a 'great place to work' and a 'high-performing company' where employees can proactively demonstrate their capabilities regardless of age, tenure, nationality, or gender.
Recently, Daewoong introduced the AI-based bed monitoring solution 'Think,' which has made a significant impact in the market. Daewoong plans to expand its digital healthcare business with products such as continuous glucose monitors and wearable electrocardiograms, building an AI-based total healthcare solution that covers disease prevention, diagnosis, treatment, and post-care.
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