April 23, 2024
Bio
Korean drug firms enjoy strong sales
[THE INVESTOR] Some pharmaceutical companies in South Korea saw strong sales in the first nine months of this year aided by their money-making subsidiaries, industry sources said on Dec. 9.
Consolidated sales of Kwangdong Pharmaceutical are expected to exceed the 1 trillion-won mark this year for the first time in its history, bolstered by the rapid growth of its maintenance, repair and overhaul unit Korea e-Platform.
Kwangdong’s consolidated top line reached 791.2 billion won (US$681 million) in the January-September period, for which revenue of Korea e-Platform accounted for 36 percent. The drug maker’s separate sales reached 481.6 billion won during the three-quarter period.
“Korea e-Platform, which Kwangdong Pharmaceutical acquired last year, contributes greatly to the drugmaker‘s overall sales,” an industry watcher said. “On a separate basis, its revenue is unlikely to surpass the 1 trillion-won level.”
Kwangdong is not alone. Chong Kun Dang Holdings has benefited greatly from the stellar performance of its drug substance producer Kyongbo Pharmaceutical.
Chong Kun Dang Holdings posted 239.5 billion won in consolidated revenue during the nine-month period, with 142.9 billion won coming from Kyongbo.
(theinvestor@heraldcorp.com)
Consolidated sales of Kwangdong Pharmaceutical are expected to exceed the 1 trillion-won mark this year for the first time in its history, bolstered by the rapid growth of its maintenance, repair and overhaul unit Korea e-Platform.
Kwangdong’s consolidated top line reached 791.2 billion won (US$681 million) in the January-September period, for which revenue of Korea e-Platform accounted for 36 percent. The drug maker’s separate sales reached 481.6 billion won during the three-quarter period.
“Korea e-Platform, which Kwangdong Pharmaceutical acquired last year, contributes greatly to the drugmaker‘s overall sales,” an industry watcher said. “On a separate basis, its revenue is unlikely to surpass the 1 trillion-won level.”
Kwangdong is not alone. Chong Kun Dang Holdings has benefited greatly from the stellar performance of its drug substance producer Kyongbo Pharmaceutical.
Chong Kun Dang Holdings posted 239.5 billion won in consolidated revenue during the nine-month period, with 142.9 billion won coming from Kyongbo.
(theinvestor@heraldcorp.com)
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