Daewoong Pharmaceutical's biggest quarterly performance ever

Second quarter operating profit of 33.6 billion

Nabota exports to the U.S. doubled in a year

Daewoong Pharmaceutical achieved its highest quarterly performance ever.

 

Separately, sales in the second quarter increased 7.6% year-on-year to 293.8 billion won and operating profit increased 25.8% to 33.6 billion won.

 

Both sales and operating profit are all-time highs based on quarterly performance.

 

Earlier, Daewoong Pharmaceutical also set the highest quarterly operating profit in the first quarter.

 

It then broke its quarterly operating profit record once again for the first time in a quarter.

 

Nabota enters the European market in the second half of the year

Daewoong Pharmaceutical cited Nabota's propaganda as one of the reasons for achieving its biggest performance.

 

According to the company, Nabota's second-quarter sales amounted to 37.1 billion won, up 60% from 23.2 billion won a year earlier.

 

Nabota's exports grew 105% from 14.2 billion won to 29.2 billion won during the same period.

 

U.S.

 

exports account for the largest share of Navota exports.

 

Exports to U.S.

 

sales partner Evans doubled from the previous year to 21.1 billion won.

 

Daewoong Pharmaceutical explained that exports to Southeast Asia and Central and South America were also strong.

 

The recent rise in the exchange rate also contributed positively to the improvement of export performance.

 

Sales in the specialized medicine sector rose 5.5% to 205.8 billion won from 5.1 billion won in the second quarter of last year.

 

High-yield products such as hyperlipidemia treatment Crezet, diabetes treatment "Diabex" and antithrombotic Anplone increased by 10% compared to the same period last year.

 

Sales of Forxiga, a diabetes treatment drug in charge of domestic distribution by Daewoong Pharmaceutical, also grew by more than 30% in a year, contributing to sales expansion.

 

The OTC sector posted 34.3 billion won in sales, up 19.9% from 28.6 billion won in the second quarter of last year.

 

Due to the spread of COVID-19, the fever reducer EZN6 grew 45% year-on-year.

 

Ursa, a liver improvement functional drug, also grew by more than 30% during the same period.

 

In the case of health functional foods, sales doubled in a year.

 

Daewoong Pharmaceutical said it is expected to continue to increase profitability in the second half of this year.

 

Nabota, which has become Daewoong Pharmaceutical's new cash cow, is set to be released in Europe, Turkey, and Chile after the third quarter.

 

The addition of FexuClue, a new drug for gastroesophageal reflux disease released by Daewoong Pharmaceutical earlier this month, is also expected to increase its performance.

 

Daewoong Pharmaceutical is moving quickly to expand FexuClue's market share.

 

In Korea, the special features of FexuClue are actively informed to medical staff across the country through various channels.

 

In the case of overseas markets, it has signed 1.1 trillion won worth of technology exports with 15 countries around the world, and plans to expand its export range sequentially to foster it as a global blockbuster new drug.

 

An official from Daewoong Pharmaceutical said, "Nabota's expansion of its market share in major global botulinum toxin markets, including the United States, led to the highest quarterly sales and operating profit ever." He said, "We expect the company's growth and return to rise together when sales of FexuClue, a new drug for gastroesophageal reflux disease, are visible in the third quarter and Nabota is released in Europe and elsewhere."