Hanmi Pharmaceutical's Q2 Operating Profit Up 75% To KRW 58.1 Billion

Hanmi Pharmaceutical has achieved robust performance due to strong sales of key products and the growth of its subsidiaries.

The company announced on the 30th that it recorded consolidated sales of 378.1 billion Korean won (USD 295.9 million), an operating profit of 58.1 billion Korean won (USD 45.5 million), and a net profit of 47 billion Korean won (USD 36.8 million) in the second quarter of this year. Compared to the same period last year, sales increased by 10.3%, operating profit by 75.3%, and net profit by 150.6%. The company invested 52.3 billion Korean won (USD 40.9 million), which is 13.8% of its sales, in research and development (R&D).

For the first half of this year, Hanmi Pharmaceutical's cumulative sales (on a consolidated basis) increased by 11.1% year-on-year to 781.8 billion Korean won (USD 611.2 million), operating profit rose by 44.8% to 134.8 billion Korean won (USD 105.4 million), and net profit grew by 61% to 110.2 billion Korean won (USD 86.2 million). The company expects to achieve the highest sales in its history.

Hanmi Pharmaceutical stated, "The significant increase in operating profit was driven by the continued sales growth of improved and combination drugs, which also led to a sharp increase in net profit."

The solid performance of domestic prescription drugs particularly drove sales growth. Hanmi Pharmaceutical, which has held the top spot in domestic outpatient prescription sales for six consecutive years, has seen sustainable growth in key products such as 'Rosuzet' and 'Amosaltan'. The combined dyslipidemia treatment drug Rosuzet exceeded 100 billion Korean won (USD 78.2 million) in outpatient prescription sales in the first half of the year, with Q2 prescriptions increasing by 16.6% year-on-year to 51.1 billion Korean won (USD 40 million). The hypertension treatment drug 'Amosaltan' Family also recorded sales of 36.2 billion Korean won (USD 28.3 million).

Hanmi Pharmaceutical's export performance for Q2 (excluding royalties) was 57.8 billion Korean won (USD 45.1 million), a 5.9% increase compared to the same period last year.

The local subsidiary in China, Beijing Hanmi Pharmaceutical, recorded consolidated sales of 98.7 billion Korean won (USD 77.2 million) in Q2, contributing to Hanmi Pharmaceutical's overall performance growth. This marks a 9.6% increase compared to Q2 of the previous year. Operating profit and net profit were 25.2 billion Korean won (USD 19.7 million) and 23.2 billion Korean won (USD 18.1 million), respectively, representing year-on-year increases of 15.0% and 12.0%.

Hanmi Pharmaceutical is also continuously achieving results in the R&D sector. Recently, its next-generation obesity treatment triple agonist (HM15275) entered phase 1 clinical trials. The candidate substance being developed as a treatment for non-alcoholic steatohepatitis (NASH) is also progressing well in clinical trials. Additionally, the immunomodulatory anticancer drug (HM16390) received phase 1 clinical trial approval from the the U.S. Food and Drug Administration (FDA), and an innovative new drug for the treatment of Fabry disease was designated as an orphan drug by the FDA.

Jae-Hyun Park, CEO of Hanmi Pharmaceutical, said, "Hanmi's strong R&D capabilities and the superior product quality of our independently developed drugs are driving sustainable growth. In the second half of the year, we are scheduled to announce the clinical results of major new drug pipelines and are accelerating research on immuno-oncology drugs."