Daewoong Pharmaceutical's 1st quarter sales led by Nabota and Pexuclu: Welfare Shinbo

2023-05-03 10:52:00

【Welfare News】 Daewoong Pharmaceutical’s 1st quarter results have been released. As expected, Nabota appears to have driven the growth. It has been confirmed that the new drug Fexuclu is also doing well in the market.

Daewoong Pharmaceutical (CEO Jeon Seung-ho and Lee Chang-jae) announced that they recorded 292.3 billion won in sales and 31 billion won in operating profit in the first quarter (separate period), up 7.4% and 15.9% year-on-year, respectively. On a consolidated basis, sales were KRW 322.4 billion (8.1%) and operating profit was KRW 24.5 billion (6.2%).

Daewoong Pharmaceutical recorded record-high annual sales and operating profit last year. This year, as of the first quarter, it set a record high operating profit (separate standard).

Overall growth was driven by the promotion of prescription drugs focused on high-margin products, such as gastroesophageal reflux disease drug Fexuclu, and Nabota, the only FDA-approved botulinum toxin in Korea.

Sales of prescription drugs recorded KRW 206.9 billion, up 4.7% from KRW 197.6 billion in the same period last year. Among them, Fexuclu’s prescription amount in the first quarter was KRW 10.8 billion, up 46% from the previous quarter, and it has been ranked third in sales in the gastroesophageal reflux disease treatment market since February.

The Nabota division achieved sales of KRW 42.6 billion, up 40.3% from KRW 30.4 billion in the same period last year. In particular, exports increased by 59.3% year-on-year from KRW 22.8 billion to KRW 36.4 billion.

Amid strong exports of Evolus, a sales partner in the US, it has established itself as the fastest-growing botulinum toxin brand in major global markets such as Thailand, Brazil and Turkey. In addition, as Evolus expands the number of countries to be released to more than 11 countries in Europe alone within this year and is preparing to be released in Australia and Saudi Arabia within the year, solid growth is expected in the future.

The global division recorded sales of KRW 3.9 billion, up 11.2% from KRW 3.5 billion in the same period last year. Sales increased due to the expansion of the sales network of Newanta, an antacid liquid product, and the launch of a new product, Easyderm. In the future, the company plans to focus on growing sales of fire extinguisher products in Asia and increasing sales of Pexuclu in the Philippines, Ecuador, and Chile.

On the other hand, Daewoong Pharmaceutical officially launched Enblo, the first domestically produced SGLT-2 series diabetes drug, successfully developed after being designated as the No. 1 target for rapid review by the Ministry of Food and Drug Safety on the 1st.

SGLT-2 series diabetes treatment is evaluated as the next-generation diabetes treatment globally as it not only lowers blood sugar, but also has benefits for cardiovascular and kidney diseases as well as weight loss and blood pressure lowering effects. Daewoong Pharmaceutical is promoting the new drug development capabilities of the Korean biopharmaceutical industry abroad by speeding up technology exports as well as expanding its market share in the domestic diabetes treatment market.

Enblo already signed a technology export contract worth about KRW 108.2 billion in Brazil and Mexico last February, and starting with this, it aims to enter 15 countries by 2025 and 50 countries by 2030.

In addition, while the Korean government is paying attention to the biohealth industry as a future growth engine, Daewoong Pharmaceutical announced on the 27th of last month (local time) that it received a It created an economic effect of 77 million dollars (639.1 billion won).

On this day, Daewoong Pharmaceutical signed a technology export contract for DWP213388, a new drug candidate for autoimmune disease, with Vitalli Bio, a portfolio company of Aditum Bio, a US biotechnology investment company. It has received FDA approval for a phase 1 clinical trial plan. In January of this year, it also signed a technology export contract for versiphorosin, a new drug for idiopathic pulmonary fibrosis, designated as a rapid development item by the US FDA, in China.

An official from Daewoong Pharmaceutical said, “In line with the current government’s policy of fostering the biopharmaceutical industry, we are generating continuous results through active investment in research and development of innovative new drugs and production facilities.” Through this, we will contribute to the growth of the Korean pharmaceutical bio industry.”

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