Qsimia's sales exceeded ₩200 billion

Last year's sales were ₩211.1 billion and operating profit was ₩17.3 billion. 11%/19% year-on-year↑

Qsymia released at the beginning of last year, annual sales of ₩22.5 billion

Alvogen Korea surpassed ₩200 billion in annual sales for the first time since its launch in Korea.

 

Qsymia, an obesity treatment drug released at the beginning of last year, and the obesity treatment Qsymia, which was released earlier last year, produced the largest sales.

 

According to the Financial Supervisory Service on the 7th, Alvogen Korea's sales last year reached ₩211.1 billion, up 11.3% from the previous year.

 

For the first time since the establishment of the branch, annual sales exceeded the ₩200 billion.

 

Operating profit was ₩17.3 billion, up 19.3% from the previous year.

 

Sales and operating profit of Aalvogen Korea by year (Unit: ₩100 million, Source: the FSS)

The predecessor of Alvogen Korea is KEUNWHA, founded in 1958.

 

Alvogen Group, a foreign company, entered the domestic market with the acquisition of KEUNWHA in 2012.

 

Alvogen acquired Dream Pharma, which was owned by Hanwha Group with funds raised through KEUNWHA in 2014, and changed its name to Alvogen Korea by merging the two companies the following year.

 

The product with the highest performance ever is Qsymia.

 

Alvogen Korea was launched from Vivus in the US in 2017.

 

After securing the domestic copyright of Qsymia, a combination of Phentermine and Topiramate, it launched in partnership with Chong Kun Dang at the beginning of last year.

 

After its release, Immediately after its release, Qsymia shook the domestic obesity treatment market with Saxenda by NovoNordisk.

 

In the first quarter of last year, it ranked second in domestic obesity treatment sales with sales of ₩4.3 billion, and sales increased to ₩5.8 billion in the second quarter and ₩6.5 billion in the third quarter.

 

Last year's cumulative sales of Qsymia reached ₩22.5 billion, and the market share reached 15.7%.

 

Alvogen Korea’s sales declined slightly for the first time in 2019.

 

However, both sales and operating profit have rebounded after a year due to the success of the new product.

 

Alvogen Korea posted a net profit of ₩6.9 billion last year.

 

This is a 49.3% increase from the previous year.

 

The company is paying a cash dividend of ₩8.5 billion in 7 years since 2014.

 

The largest shareholder of Alvogen Korea is Alvogen Korea Holdings Co., Ltd.

 

(100% stake).