Hanmi achieves record quarterly performance in 7 years

With soaring sales made from its new combination drug and Chinese subsidiary

Largest sales and operating profit to be made since Q4 2015 when it signed a mega licensing-out deal

Rosuzet outperforms in the outpatient prescription market... Beijing Hanmi’s performance also surges

Hanmi Pharmaceutical recorded the highest performance in 7 years since 2015.

 

Its sales and operating profit were the largest since Q4 2015 when it signed a series of mega technology export deals, thanks to the success of its new combination drug and Beijing Hanmi.

 

On the 1st, Hanmi Pharmaceutical officially announced that its operating profit had increased 26.9% compared to the same period of the previous year to reach KRW 46.8 billion in Q3.

 

Its sales revenue had also increased 12.9% to reach KRW 342.1 billion, and net profit by 11.5% to reach KRW 31.3 billion.

 

The company’s cumulative operating profit had risen 44.2% compared to the same period of the previous year to reach KRW 119.2 billion, and its sales rose 15.0% in the same period to reach KRW 980.4 billion.

 

The sales and operating profit made by Hanmi Pharmaceuticals in Q3 this year are the largest made since Q4 2015.

 

In Q4 2015, Hanmi Pharmaceuticals signed a series of mega licensing-out deals and recorded sales of KRW 589.9 billion and an operating profit of KRW 171.5 billion.

 

Quarterly Sales of Hanmi (left) operating profit (right) (Unit: KRW 1 million, data: FSS)

Hanmi Pharmaceuticals said, “This is the first time since our establishment that our quarterly sales exceed KRW340 billion excluding technology fees from overseas.” The new combination drug developed by Hanmi Pharmaceuticals outperformed itself in the domestic market.

 

According to the market research institution UBIST, outpatient prescription sales of its hyperlipidemia combination drug Rosuzet reached KRW 36.4 billion in Q3, which is a 13.5% increase from Q3 of the previous year.

 

Its cumulative sales reached KRW 103 billion in Q3 this year.

 

Launched at the end of 2015, Rosuzet is a combination drug that consists of two ingredients - rosuvastatin and ezetimibe – and is used to treat hyperlipidemia.

 

Rosuzet is the first homegrown new drug to exceed outpatient prescription sales of KRW 100 billion in only 3 quarters.

 

As Rosuzet’s sales exceeded KRW 100 billion in 2020 and the previous year, with the record, Rosuzet’s sales are set to exceed KRW 100 billion for three consecutive years.

 

The company’s new fixed-dose drug combination, the Amosartan family, is also showing steady growth.

 

Hanmi Pharmaceuticals has been selling the amlodipine and losartan combination Amosartan as well as Amosartan Plus, Amosartan Q, and Amosartan XQ.

 

Amosartan Plus is a combination of three drugs, amlodipine, losartan, and chlorthalidone.

 

Amosartan Q is a combination of Amosartan and the hyperlipidemia treatment rosuvastatin.

 

Amosartan XQ is a combination of Amosartan, rosuvastatin, and ezetimibe that was released last year.

 

Prescriptions of Amosartan in Q3 increased 1.1% from the same period of the previous year to record KRW 21.1 billion.

 

Prescription of Amosartan Plus decreased 1.1% YoY to record KRW 7.1 billion, and Amosartan Q, Amosartan made KRW 2.9 billion and KRW 1.8 billion, respectively.

 

Also, Hanmi Pharmaceutical’s Chinese subsidiary, Beijing Hanmi, showed improved performance.

 

Beijing Hanmi recorded sales of KRW 93 billion in Q3 this year, making a 23.4% YoY increase.

 

Its operating profit has also grown 25.5% to reach KRW 24.2 billion.

 

Beijing Hanmi has been growing with the annual rise in demand for its key products including Mamiai (pediatric digestive supplement with lactic acid bacteria), Etanjing (cough medicine), and Leeddong (laxative), etc.

 

An official from Hanmi Pharmaceutical said, “We have living up to our management slogan of ‘sustainable innovative management,' which was demonstrated through our excellent performance this year.

 

We will do our best to present a management model for the Korean pharma-bio industry while endeavoring to support Korea's growth into a pharmaceutical powerhouse as a native Korean pharmaceutical company.”