Pharmaceutical Industry Award
Yuhan Corporation (CEO Kim Yun-sub) broke through one trillion won (US$911 million) in sales for the first time in the local pharmaceutical Industry.
Yuhan Corporation reached the sales volume of one trillion won on Dec. 19, 120 years since the beginning of domestic pharmaceuticals and 88 years since the founding of the company.
Reaching one trillion won in sales has a significant meaning in that it achieves the baseline for the “economy of scale” that could enable a domestic pharmaceutical company to grow into a global business.
The Yuhan Corporation has been setting records with its double digit growth rate for the past three years. Its sales have grown exponentially, reaching 678.2 billion won (US$617.8 million) in 2011, 776.4 billion won (US$706.3 million) in 2012, and 943.6 billion won (US$859.5 million) in 2013.
Domestic sales expansion and the export of drug medicine have grown significantly as well, with business diversification into fields of health care goods and cosmetics contributing to sales growth. The company now exports AIDS treatments and intermediate products, with their sales volume reaching 115.8 billion won (US$105.5 million) in the third quarter only. Their delivery of base materials for antibiotics also reached approximately 8.3 billion won (US$7.6 million).
President Kim Yun-Sub said, “I am really proud that the Yuhan Corporation became the leading company in accomplishing the first one trillion sales in the history of Korean pharmaceuticals,” adding, “The honor goes to the people of our nation and over 1,500 workers serving in our company.”
Yuhan Corporation is a company founded by the late Doctor Yu Il-Han in 1926, famous for the tale that the founder and his family returned their entire fortune to society.