HK inno.N is closing in on its first-ever annual sales of ₩1 trillion.
According to financial data provider FnGuide on August 11, the company’s 2025 revenue is projected at ₩1.0969 trillion (approx. $789 million) with operating profit expected to reach ₩108.5 billion (approx. $78 million). Both figures represent 22% growth from the previous year, positioning the company to surpass the ₩1 trillion mark in annual sales for the first time since its founding.
This outlook is backed by solid first-half performance and strong growth from key products. In the first half, HK inno.N posted sales of ₩510.5 billion ($367 million), up 18.2% year-on-year, and operating profit of about ₩44.9 billion ($32 million), up 7.9%. In the April–June quarter alone, the company recorded ₩263.1 billion in sales and ₩19.5 billion in operating profit, putting it on pace to exceed ₩1 trillion in annual sales on a run-rate basis.
The gastroesophageal reflux disease treatment K-CAB continues to be a key growth driver. First-quarter prescriptions totaled ₩51.4 billion, up 13.7% year-on-year, followed by a 14.3% increase in the second quarter to ₩53.3 billion. Cumulative first-half prescriptions have exceeded ₩100 billion. K-CAB is now launched in 16 overseas markets and approved in four additional countries. In the first half, launches in Malaysia and approval in India helped boost royalty revenue.
The company’s IV solution business is also expanding steadily. Sales grew from ₩101 billion in 2022 to ₩122.1 billion last year and continued the upward trend this year. First-half IV solution sales rose about 19% to ₩67.4 billion from ₩56.7 billion a year earlier, with nutritional solutions posting growth of over 30%. Since second-half sales in this segment typically exceed those in the first half, full-year revenue is expected to increase further.
HK inno.N also has clear momentum in the second half. The company was recently selected as a supplier of Pfizer’s COVID-19 vaccine for Korea’s National Immunization Program (NIP) and plans to deliver ₩213.9 billion ($154 million) worth of doses this year. Analysts estimate this deal could add more than ₩10 billion ($7 million) to annual operating profit.
Market expectations are also rising for the out-licensing of K-CAB’s European rights within the year. With the drug having demonstrated efficacy in its U.S. Phase 3 trial, some analysts predict the deal size could surpass that of the 2021 licensing of U.S. and Canadian rights, which was valued at ₩640 billion ($460 million) including upfront and milestone payments.
An HK inno.N official commented, “With COVID-19 vaccine distribution and the expansion of K-CAB’s overseas markets progressing as planned in the second half, we will continue our efforts to secure future growth drivers and enhance profitability.”
