Boryung recorded the largest quarterly sales performance

3Q cumulative operating profit of ₩36 billion,↑sales 8%

Boryung

Boryung's quarterly performance improved even amid the economic downturn caused by COVID-19.

 

The growth of new drugs introduced by multinational pharmaceutical companies, centering on Kanarb Family developed with their own technology, has contributed to the improvement of the performance of the Prescription drugs division.

 

Boryung announced on the 27th that its operating profit for the third quarter was ₩12.9 billion, an increase of 8.4% year-on-year.

 

During the same period, sales amounted to ₩145.4 billion, a 4.4% increase from the previous year, and net profit fell 2.1% to ₩8.1 billion.

 

The company's third quarter sales are the largest quarterly sales since the company was founded.

 

The new record for the previous quarter was ₩138.9 billion in the fourth quarter of last year.

 

The cumulative operating profit in the third quarter was ₩36 billion, up 10.0% from last year, and sales increased 7.5% to ₩414.1 billion.

 

The reason that Boryung was able to continue its sales increase for three consecutive quarters despite the spread of COVID-19 is due to the sales of Kanarb Family.

 

According to UBIST, a drug market research institute, the outpatient prescription for Kanarb (Fimasartan) in the third quarter was ₩12.6 billion, up 6.2% from ₩11.9 billion a year earlier.

 

The cumulative prescription amount of Kanarb this year was ₩37 billion, up 5.2% from the same period last year.

 

Kanarb is an ARB (Angiotensin II receptor blocker) series hypertension treatment developed by Boryung's own technology.

 

Since its launch in the domestic market in March 2011, it has increased its sales every year, but the rise was even steeper due to Valsartan’s impurity situation two years ago.

 

Boryung steadily launched combination drugs based on Kanarb.

 

The cumulative prescription amount of Dukarb, a combination drug of Kanarb and a calcium channel blocker (CCB) drug Amlodipine, in the third quarter was ₩25.9 billion, up 24.0% from last year.

 

Outpatient prescriptions for Tuvero, which combines Kanarb with Rosuvastatin, a hyperlipidemia drug, and Lacor, which combines Kanarb with a diuretic, cost 3.7 billion won and 5.4 billion won respectively.

 

At the beginning of this year, the prescription of Dukaro, a three-drug drug for hypertension and hyperlipidemia, was worth ₩3.5 billion, and Akarb, a combination drug for hypertension and hyperlipidemia, which was recently released, was prescribed for about ₩100 million.

 

In the third quarter of this year, the cumulative prescription amount of 'Kanarb Family', which includes five types of 'Kanarb' and combined drugs, amounted to ₩75.7 billion.

 

The prescription size increased by 19.0% from last year due to the effect of new product launches.

 

If the current trend continues, the annual prescription amount is expected to exceed ₩100 billion.

 

Prescription drugs, which obtained copyrights from multinational pharmaceutical companies, are also expanding externally.

 

The anti-ulcer drug Stogar has been prescribed for ₩15 billion for 9 months this year, making it a leading prescription item among single H2 receptor antagonists.

 

Stogar is a Rafutidine-based H2 receptor antagonist.

 

At the end of last year, the scale of prescriptions increased by 58.1% in one year due to the suspension of Ranitidine due to the detection of impurities.

 

Trulicity, a GLP-1 analog-based diabetes drug introduced and sold by Eli Lilly, posted a prescription performance of ₩26.1 billion, up 11.8% from the same period last year.

 

Boryung is producing most of the new drugs introduced at its own factory, except for some jointly sold products.

 

This is evaluated as securing higher profitability than other mid-sized pharmaceutical companies in Korea.