Hanmi Pharmaceutical announced on the 29th that its consolidated financial statement for the first quarter of this year reported revenue of 390.9 billion won and operating profit of 59 billion won. Compared to the same period last year, revenue decreased by 3.2%, and operating profit declined by 23%. Net income for the period was 44.6 billion won, a decrease of 29.3% compared to the same period last year.
The company explained that the decline in performance at its overseas subsidiary Beijing Hanmi Pharmaceutical was a temporary effect due to management normalization. Beijing Hanmi Pharmaceutical's revenue for the first quarter of this year was 96.5 billion won, down 24.5% from the same period last year, while operating profit was 11.3 billion won, a reduction of 70%.
Although the performance of Beijing Hanmi was reflected in the consolidated revenue decrease, the stand-alone performance of Hanmi Pharmaceutical in Korea grew. Stand-alone revenue for Hanmi Pharmaceutical was 295 billion won, up 7.3% compared to the same period last year, and operating profit recorded 47 billion won, an increase of 19% from last year. Net income for the period rose by 32% to 40.9 billion won. Revenue from non-reimbursable prescriptions (based on UBIST) increased by 3.3% to 268.4 billion won compared to the same period last year.
Sales of the combination drug 'Rosuzet' for dyslipidemia in the first quarter reached 54.3 billion won, an increase of 11% from the same period last year. The hypertension product line 'Amozaltan Family' generated 36.1 billion won, while the gastroesophageal reflux disease product line 'Esomezol Family' brought in 16.0 billion won. Overall sales of new diabetes products, including 'Da-palon Family', increased by 80.6% compared to the same period last year.
First quarter export performance reached 68.2 billion won, an increase of 46.7% compared to the same period last year. The company stated that this growth was significantly influenced by the expansion of clinical product supplies for the MASH new drug candidate (epinofegdutide) being developed by U.S. MSD.
Hanmi Pharmaceutical is focusing on expanding partnerships in growth markets beyond North America and Japan, including the Middle East and Latin America, and enhancing its cooperative product lines. The company invested 55.3 billion won in research and development (R&D), which accounts for 14.1% of first quarter revenue, to create future growth drivers.
Hanmi Pharmaceutical is preparing to launch a next-generation low-dose triple combination drug that is receiving attention as a post-Rosuzet product, and it plans to present multiple results from its obesity drug research at the American Diabetes Association (ADA) in June. A company official noted, "Through gradual progress centered on new drug development, we will enhance corporate value further to meet the expectations and support of our shareholders."