Korean pharmaceutical company Yuhan announced on Feb. 20 that its sales reached 1.5 trillion won (US$1.3 billion) last year, up 4 percent from the previous year.
Yuhan has now become the first Korean pharmaceutical company to post annual sales exceeding 1.5 trillion won. Three other firms -- Kolmar Korea, GC Pharma and Hanmi -- recorded sales of over 1 trillion won last year.
The company’s ethical drug sector was the biggest contributor to the surge. Sales of Yuhan’s ethical drugs increased around 8 percent on-year from 941 billion won to 1.17 trillion won in 2018, while its sales of over-the-counter drugs dropped 5 percent from 117.1 billion won to 111.9 billion won.
According to the company, among ethical drugs, its self-developed hyperlipidemia treatment Rosuvamibe’s sales also increased 66 percent to 37 billion won. Moreover, the company added that sales of HIV medication Genvoya and anti-diabetic Jardiance almost doubled last year compared to 2017.
Meanwhile, the Korean company’s operating profit dropped 24 percent to 60.9 billion won. The company said that this was partially due to more money being injected into research and development. Money spent on R&D increased 9 percent from 101.6 billion won to 110.5 billion won.
By Song Seung-hyun (email@example.com)