Nabota Drives Daewoong Pharmaceutical to Record Breaking Q2 Results

Daewoong Pharmaceutical achieved its highest-ever quarterly performance in Q2, driven by a focus on new drugs and an increased share of in-house products.

On August 9, Daewoong announced that it had recorded KRW 325.5 billion (USD 256.1 million) in sales and KRW 49.6 billion (USD 39 million) in operating profit on a standalone basis in Q2, setting new records in both sales and operating profit. Sales grew by 6.0% and operating profit by 37.1% year-on-year, with the operating profit margin reaching an all-time high of 15.2%.

For the first half of the year, cumulative sales and operating profit were KRW 622.1 billion (USD 489.5 million) and KRW 80.8 billion (USD 63.6 million), up 3.8% and 20.4%, respectively, compared to the same period last year.

Daewoong Pharmaceutical attributed its sales growth primarily to the botulinum toxin product 'Nabota' and the gastroesophageal reflux disease treatment 'Fexuclue.'

Nabota sales increased by 62% year-on-year to KRW 53.1 billion (USD 41.8 million) in Q2. Notably, exports accounted for 85% of toxin sales, highlighting the product's international competitiveness. Daewoong has expanded Nabota's reach beyond the United States to five European countries, including the UK, Germany, Italy, Austria, and Spain, and more recently launched it in Australia.

The second quarter sales of Fexuclue the 32nd Korean-developed new drug, reached KRW 33.2 billion (USD 26.2 million), representing a 165% year-on-year growth. Among korea P-CAB (Potassium-Competitive Acid Blocker) class treatments for gastroesophageal reflux disease, Fexuclu achieved the highest growth rate. Daewoong Pharmaceutical expects Fexuclue to achieve annual sales of KRW 100 billion (USD 78.7 million) this year.