Hanmi Pharm Records 222.8 Billion Won Sales in Q2

Hanmi Pharmaceutical Co., one of South Korea's largest drug makers, announced on July 27 that it posted 222.8 billion won (US$199.77 million) in consolidated sales and 21.5 billion won (US$19.28 million) in operating profit in the second quarter of 2017.

The company said that its key business indicators, such as sales, operating profit and net profit, have significantly improved when excluding the decrease of Sanofi license fees, which was caused by the change of contract last year.

In fact, the company’s second-quarter sales grew 4.5 percent on-year and its operating profit was also back in the black except for profits from Sanofi. Its net profit increased 26.2 percent to 12.1 billion won (US$10.85 million). Its investment in R&D reached 36.8 billion won (US$33 million), which was 16.5 percent of its sales. The figure was the largest amount of money in the domestic pharmaceutical industry.

Hanmi Pharmaceutical’s improvement in performance in the second quarter was boosted by a stable growth of its main items and better performance of Beijing Hanmi Pharmaceutical Co.

The company’s main items, including hypertension treatment “Amozaltan” and hyperlipidemia treatment “Rosuzet,” put up a good show in the domestic market and part of the downpayment from the license agreement with Genentech was reflected in profits.

Beijing Hanmi Pharmaceutical, a Chinese subsidiary of Hanmi Pharmaceutical, posted 300.49 million yuan (US$44.59 million or 49.73 billion won) in the second quarter, up 25.4 percent from a year ago, and 37.21 million yuan (US$5.52 million or 6.16 billion won) in operating profit, up 42.8 percent over the same period.