View of the Celltrion 3rd factory located in Songdo, Incheon. /Courtesy of the company

Last year, domestic pharmaceutical production exceeded 32 trillion won, marking the highest level since the statistics began.

The Ministry of Food and Drug Safety noted on the 27th that last year, domestic pharmaceutical production recorded 38.629 trillion won, a 7.3% increase from the previous year (30.6396 trillion won).

Domestic pharmaceutical production has consistently increased over the past 10 years.

The domestic pharmaceutical market size is 31.6965 trillion won, up 0.7% from the previous year (31.4606 trillion won). Pharmaceutical exports amounted to 12.6749 trillion won, an increase of 28.2% from the previous year (9.8851 trillion won). This marks the highest level in the last five years.

With exports surpassing imports, the trade balance flipped to a surplus for the first time in three years.

Last year, the growth of raw material pharmaceuticals was notable, showing a 16.8% increase to 44.007 trillion won from the previous year (37.689 trillion won).

The companies recording over 1 trillion won in pharmaceutical production are Celltrion, Hanmi Pharmaceutical, and Chong Kun Dang, the same as the previous year.

The total production of these companies was 50.408 trillion won, an increase of 28.2% from the previous year. Their share of total production also rose to 15.3%.

In terms of production, Celltrion maintained its top position with a production of 25.267 trillion won, a 62.5% increase from the previous year (15.552 trillion won).

In terms of imports, Pfizer Korea regained the top position with an increase in imports of COVID-19 vaccines and treatments, recording 67 billion won, up 117.2% from the previous year (30.85 billion won).

The production of biopharmaceuticals amounted to approximately 63.125 trillion won, an increase of 26.4% from the previous year's 49.936 trillion won, marking the entry into the 60 trillion won range for the first time.

This is analyzed to be the result of balanced growth across all formulations, including recombinant pharmaceuticals, vaccines, and toxins/antitoxins.

The production ratio by formulation was highest for recombinant pharmaceuticals (58.1%), which saw a surge of 42.7% compared to the previous year. This is believed to be due to expanded market share and increased export volume in major global markets such as North America, Latin America, and Europe.

The trade balance for biopharmaceuticals recorded a surplus of approximately $916.92 million, achieving the largest trade surplus in the past five years.

The export performance of recombinant pharmaceuticals accounted for 87.1% ($2.8104 billion) of last year's total biopharmaceutical export figure of $3.21659 billion, leading to the highest trade surplus. Exports of plasma-derived products, such as immunoglobulins, also significantly increased.

By country, Hungary had the highest exports at $1.23346 billion, followed by the United States at $606.7 million, Turkey at $432.06 million, and Brazil at $144.04 million. Exports to Hungary increased significantly by 436% compared to the previous year.

Meanwhile, imports rose to $2.29967 billion, an increase of 18.5% compared to the previous year ($1.94003 billion). This is believed to be the result of increased introduction of new vaccines and treatments for COVID-19 variant JN.1 and obesity.

Last year, the overall market size for non-pharmaceutical products saw a slight decline due to the drop in the market for quarantine supplies (masks and disinfectants) caused by the COVID-19 endemic. However, the market size for non-pharmaceutical products, excluding quarantine supplies, increased slightly.

The import performance of non-pharmaceutical products increased by 6.6% ($19.254 million) compared to the previous year. Export performance also increased by 23.6% ($8.206 million) from the previous year.

The top five categories in non-pharmaceutical production were toothpaste, energy tonic products, sanitary products, bandages, and masks. Their total production amounted to 1.2937 trillion won, accounting for 80.7% of total non-pharmaceutical production.

The production performance of sectors where Good Manufacturing Practices (GMP) are mandatory was 484.6 billion won, a 6.6% growth compared to the previous year. It has seen growth over the past five years.

By company, Dong-A Pharmaceutical ranked first in production performance for the second consecutive year. LG Household & Health Care, Yuhan Corporation, Amorepacific Corporation, and HiteJinro followed. These top five companies accounted for half of the total non-pharmaceutical production. In terms of products, 'Bacchus D' and 'Bacchus F' ranked first and second in production performance, respectively. The third was 'Gasactiv', fourth was 'Yung Jin Golonsan Original Liquid', and fifth was 'Median Tartar Original Toothpaste'.