Q3 exports of Biopharmas 'Good’ Diagnostic kits ‘Slow'

Export of biopharmaceuticals record ₩1.7 trillion… 13% YOY increase

Export from Biosimilar companies such as Celltrion·Samsung Biologics stay strong

Export sales earned from diagnostic kits fall despite a 72% increase in export volume

While pharmaceutical exports in Q3 increased slightly compared to the same period of the previous year, the performance of biopharmaceuticals and chemical drugs have shown mixed results.

 

Export of biopharmaceuticals increased 13% YOY and continued on its strong flow from last year, however, export of chemical drugs fell 13%.

 

Also, diagnostic kits, which rose as an export ‘cash cow’ after the COVID-19 outbreak, saw a decline in export value amount despite the large increase in export volume.

 

The analysis is that this may be due to the continued decline in its export unit price.

 

◆Earned ₩6.8 trillion in Q3 exports….will the industry exceed last year’s ‘largest ever’ record? According to Korea Customs Service on the 15th, the domestic export value of pharmaceuticals in Q3 was $1.86 billion (approx..

 

₩2.2 trillion).

 

This is a 6% YOY increase from the $1.76 billion (approx..

 

₩2.07 billion) in Q3 last year.

 

The cumulative amount of exports by Q3 has increased 26% from $4.60 billion (approx.

 

₩5.44 trillion) last year to $5.77 billion (approx.

 

₩6.82 trillion) this year.

 

If this trend continues, the industry may break the all-time export record that it made last year.

 

The total pharmaceutical exports last year amounted to $6.89 billion (approx.

 

₩8.15 trillion).

 

However, exports last year were concentrated around Q4.

 

In Q4 last year, the industry earned $2.30 billion (approx.

 

₩2.71 trillion), accounting for 33% of the total amount of exports of the whole year.

 

◆Biopharmaceuticals increase 13% · Chemical drugs decrease 13% … shows clear difference between areas In detail, the export between biopharmaceuticals and chemical drugs have shown mixed results.

 

In Q3, export sales of biopharmaceuticals amounted to $1.4485 billion (approx.

 

₩1.71 trillion) and increased 13% YOY.

 

The analysis is that the export of biopharmaceuticals is continuing to show good flow.

 

The share of biopharmaceuticals contributing to the total pharmaceutical exports also rose 5%p from 73% in Q3 last year to 78% in Q3 this year.

 

Export of biopharmaceuticals has soared over the past 2 years, mainly around biosimilars from Celltrion and Samsung Biologics.

 

Biopharmaceutical exports doubled from $430.17 million (approx.

 

₩510 trillion) in Q1 2019 to $868.95 million (approx.

 

₩1.03 trillion) in Q1 2020 and doubled once more to $1.81 billion (approx.

 

₩2.14 trillion) in Q1 this year.

 

On the other hand, the export of chemical drugs fell 13% from $467.81 million (approx.

 

₩550 billion) in Q3 last year to $408.8 million (approx.

 

₩480 billion) in Q3 this year.

 

◆Export volume of diagnostic kits the greatest-ever… however value earned falls 5% in one year Also, the export performance of diagnostic kits that soared after the COVID-19 outbreak has been slowing down recently.

 

In Q3 this year, exports of domestic diagnostic kits amounted to $570.37 million (approx.

 

₩670 billion), which is 5% lower than the $600.41 million (approx.

 

₩710 billion) in Q3 of last year.

 

By each quarter, sales of diagnostic kits increased steadily until Q4 last year, and then was showing signs of stagnation entering this year.

 

This is due to the worldwide COVID-19 vaccinations that began earlier this year, and the falling unit price of the kits due to intensified competition between global diagnostic kit companies.

 

By export volume, quarterly exports of diagnostic kits set a new record of 2,517 tons in Q3 this year.

 

This is much larger than the export volume in Q3 last year - 1,467 tons.

 

In other words, the export value fell 5% despite a 72% increase in exports export volume in the same period.