KOREA UNITED PHARM, INC. is on track to exceed KRW 300 billion (USD 217 million) in annual sales for the first time in its history, backed by a steady stream of incrementally modified drugs and the launch of new products in the second half of the year.
According to the pharmaceutical industry on September 1, Korea United Pharm’s sales grew from KRW 262.5 billion in 2022 to KRW 278.9 billion in 2023, and further to KRW 288.7 billion in 2024. This year, the company is aiming for KRW 330 billion (USD 239 million) in sales and KRW 60 billion (USD 43 million) in operating profit. In the first half alone, it recorded KRW 141.7 billion (USD 103 million) in sales and KRW 24.6 billion (USD 18 million) in operating profit.
Often referred to as a leader in incrementally modified drugs, the mid-sized pharmaceutical firm has derived more than half of its revenue from such products. Its flagship antithrombotic drug CILOSTAN CR Tab. generates annual sales of around KRW 40 billion, while the dyslipidemia combination therapy Artmac Combi-gel brings in about KRW 30 billion. Other blockbuster products, such as the dyspepsia treatment GASTIIN CR Tab. and the hypertriglyceridemia therapy Ometyl Q-Tlet, each surpass KRW 10 billion in sales, serving as cash cows.
The company plans to further accelerate growth momentum with new product launches in the second half. Korea United Pharm recently won regulatory approval for Siloduo, a fixed-dose combination of cilostazol (CILOSTAN) and rosuvastatin, indicated for the treatment of chronic arterial occlusive disease due to atherosclerosis. By combining two commonly co-prescribed agents in one pill, Siloduo is expected to enhance patient convenience while also creating synergy with its top-selling product CILOSTAN.
The company also launched Pitaric Capsule, a dyslipidemia therapy, in August, targeting a KRW 45 billion (USD 32 million) market. In the fourth quarter, it plans to release Sereterol Actvair, an inhaler for chronic obstructive pulmonary disease (COPD), aiming to tap into the domestic KRW 100 billion (USD 72 million) market. With these three launches in the second half alone, the company expects a meaningful boost to sales.
Korea United Pharm is also laying out a mid- to long-term growth strategy. The company is investing in a new plant in Sejong, which will double its annual production capacity from KRW 300 billion to KRW 600 billion, preparing for expanded supply of both new products and pipeline drugs.
Beyond incrementally modified drugs, the company is also stepping up new drug development. Through U&S Bio, a joint venture with Seoul National University Holdings, it is developing four new drugs, including an immuno-oncology therapy, treatments for diabetes and obesity. Notably, it is advancing development of a semaglutide biosimilar, with plans to launch it in Korea by 2028.
A Korea United Pharm official said, “We will boost sales of incrementally modified drugs while releasing competitive new products in the second half. We expect these new launches to have a positive impact, enabling us to surpass KRW 300 billion in annual sales for the first time.”
