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- Achieves record sales with corporate profit of KRW 106 billion and net profit of KRW 80.1 billion based on 2022 accounting
- Not only stable positioning of Fexuclue but also achievement in obtaining new drug permit for Envlo
SEOUL, South Korea, Feb. 20, 2023 /PRNewswire/ -- Daewoong Pharmaceutical (CEOs Seng-ho Jeon, Chang-jae Lee) announced its 2022 annual report. On a stand-alone basis, sales increased from the previous year up 10.1% to KRW 1.16 trillion, with corporate profit up 11.0% to KRW 106 billion, and net profit up 123.9% to KRW 80.1 billion of KRW, respectively. According to the consolidated accounts, sales were KRW 1.28 trillion, corporate profit KRW 95.8 billion and net profit KRW 76.1 billion.
This achievement is the result of steady growth in sales and corporate profits amid rebounding exports of Nabota, Daewoong Pharmaceutical's botulinum toxin, and the market establishment of Fexuclue, a new reflux disease drug. gastroesophageal, launched on the market last July.
In the ETC sector, sales increased by 6.1%, from KRW 7.78 billion a year earlier to KRW 825.5 billion. Fexuclue, which went on the market in the middle of last year, successfully established itself in the market by landing in major general hospitals across the country and achieving cumulative sales of KRW 10 billion in just four months, while Ursa, the supplement to improve liver function, also advanced on the fast track. The growth of the ETC sector is expected to soar as the prescription of Fexuclue for gastritis goes into full swing in the first half of this year and Envlo, a treatment for type Ⅱ diabetes and Korea's 36th new drug, comes out to the market.
Nabota, the botulinum toxin, sold for KRW 142 billion, up 78.5% from KRW 79.6 billion a year earlier, with overseas sales more than doubling at 123.3%. In the US market, the world's largest for botulinum toxin, annual sales increased 49% over the previous year, and in the largest continental markets, such as Thailand and Brazil, it has established itself as the fastest growing toxin brand . Daewoong Pharmaceutical expects to obtain a permit and advance in China this year, and plans to increase Nabota's global share by introducing it into countries with proven high marketability, such as Australia, Germany and Austria.
In the OTC sector, sales increased by 11.7%, from KRW 114.4 billion the previous year to KRW 127.7 billion. EZN 6, an antipyretic pain reliever, has increased its sales amid the COVID 19 pandemic, along with EasyDerm, a new moist dressing, and Enerthistle, a functional food for liver health, which is sold in major supermarkets. Daewoong Pharmaceutical plans to expand the territory of related business by strengthening household medicines, medicines for the prevention and improvement of symptoms associated with aging, and Senomega, which is a health supplement for blood circulation.
In the global and other sector sales were KRW 20.3 billion. Daewoong Pharmaceutical has signed an export technical agreement totaling KRW 1.2 trillion for Fexuclue, which obtained drug approval in the Philippines and Ecuador in the first year of launching in the country, and plans to expand the partnership to Europe and Russia .
For its part, Daewoong Pharmaceutical invested 139.3 billion KRW, or 12% of its annual sales, in research and development, succeeding in developing a new drug for two consecutive years starting in 2021. Envlo tablet was granted new drug permission for the treatment of diabetes with sodium glucose cotransporter 2 (SGLT2) inhibitors for the first time in Korea among pharmaceuticals last November and was selected as the first Global Innovative Fast Track (GIFT) company by the Ministry of Food Safety and Pharmaceutical for being recognized for the excellence and potential of the new drug.
Fexuclue tablet, officially launched in the country last July, has shown its effect in improving gastric mucosal injury of acute and chronic gastritis for the first time among domestic potassium-competitive acid blocker (P-CAB) in only one month of market launch. Daewoong Pharmaceutical plans to consolidate Fexuclue's position as a best-in-class drug by adding the diseases it is effective for and diversifying the form. For its part, Nabota, which last year entered the European market, the second in the world for botulinum toxin, accelerates its advance in the global disease-curing market as the first Korean pharmaceutical company to do so after successfully completing clinical trials. Phase 2 trial for cervical dystonia in the United States.
Daewoong Pharmaceutical stated that the previous year was the year Daewoong verified its R&D capability by succeeding in developing new drugs for two consecutive years, such as Fexuclue, which Daewoong developed, launched and brought to market, and Envlo, for which Daewoong obtained a new drug permit. He added that this year, Daewoong will position itself as a global healthcare group by growing its own Daewoong-developed troikas - Fexuclue, Envlo and Nabota - into a global bestseller in new medicines.
 Items representing less than 10% of sales (for example, consignment)
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