Growth hormone market fluctuates with Pfizer’s supply issue

2020 H1 sales leader board LG Chem KRW 29.8 billion, Dong-A ST KRW 15.9 billion won, Merck KRW 12.5 billion and Novo Nordisk 10.2 billion

LG Chem, Dong-A ST and Novo Nordisk benefit from second place Pfizer shaken by halted supply and 54% sales drop

The growth hormone injection market generating annual sales of 150 billion won had a fluctuating sales rank in the first half of the year.

 

While LG Chem is still leading the market, Pfizer in the second place was dropped to the fifth place due to its global supply suspension.

 

On the contrary, LG Chem, Dong-A ST and Novo Nordisk boosted their sales amid Pfizer’s absence.

 

According to a pharmaceutical market research firm IQVIA on Sept.

 

15, the growth hormone market was valued at 77.3 billion won in the first six months of this year.

 

The figure grew by 10 percent from 70.1 billion won in same time last year.

 

The growth hormone market is growing every year.

 

The annual sales in 2015 marked 76.3 billion won and reached 91.7 billion won, 101.8 billion won, 126.6 billion won, and 145.7 billion won in 2016 through 2019.

 

The market predicts the sales would break through the 150 billion won mark this year.

 

Growth hormone injection market sales growth in last five years (Unit: KRW 100 million) Source: IQVIA

LG Chem has been topping the market with its lineup of Eutropin, Eutropin Plus and Declage.

 

In the first half of the year, the three products generated total 29.8 billion won, which surged by 28 percent from same time last year at 23.2 billion won.

 

Except for the market leader, the leader board had a major shuffle.

 

Pfizer’s Zinotropin that used to be in the second place climbed down to the fifth, but Dong-A ST’s Growtropin, Merck’s Saizen, and Novo Nordisk’s Norditropin jumped up the ladder.

 

Pfizer’s Zinotropin barely made 6.7 billion won in the first half of the year.

 

Compared to 14.7 billion won made last year, it took a steep 54-percent (8 billion won) fall.

 

The market experts analyze the sudden drop in Pfizer’s sales was impacted by the drug supply issue prevalent around the world.

 

Late last year, the global company headquarters halted the supply, when a regular check up confirmed the risk of affecting the product quality found in the production line located in Belgium.

 

With already distributed stocks in South Korea, Pfizer’s sales were not significantly affected until the fourth quarter last year, but it eventually got crippled in this year.

 

Regarding the issue, Pfizer Pharmaceutical Korea official said, “The supply to Korea has been resumed from May,” and “The company is expecting the sales to recover in the latter half of the year.”

Top growth hormone product sales from 2015 H1 through 2020 H1 (Unit: KRW 100 million) Source: IQVIA

Due to Pfizer’s supply issue, Dong-A ST and Novo Nordisk had the window of opportunity to leverage their sales.

 

Dong-A ST’s Growtropin sales marked 15.9 billion won and instantly came in second.

 

In same time last year, the injection made 12 billion won and placed itself in the fourth place.

 

On the other hand, Novo Nordisk’s Norditropin sales reached 10.2 billion won and took the fourth spot.

 

Compared to last year making 5.9 billion won, its sales skyrocketed by 72 percent.

 

The market experts see the injection to have benefited the most from Pfizer’s supply gap.

 

But apparently, Merck’s Saizen did not get to benefit from Pfizer’s suspended supply.

 

In last year, the company was in the third place, but the sales dipped by 1 percent from 12.7 billion won to 12.5 billion won.

 

Moreover, SciGen Korea’s Scitropin made 1.3 billion won, and Ferring Korea’s Zomacton made 900 million won.

 

A pharmaceutical industry insider explained, “Regardless of declining birth rate, the growth hormone market has been surging as the expanded healthcare reimbursement was granted since last year,” and as “Pfizer took a hard hit with the supply issue in the first half of the year, its competitors aggressively tackled the market.”