Bukwang Pharm achieved not only external growth but also qualitative growth at the same time last year as its CEO Yoo Hee-won succeeded in posting the biggest sales last year since its establishment.
According to a pharmaceutical industry source, the sales of Bukwang Pharm reached 194.2 billion won last year, a 28.8 percent increase year-on-year on a consolidated basis. This is the largest figure since its establishment in 1960. As a result, Bukwang Pharm is close to the 200 billion won mark in annual sales.
During the same period, operating profit increased by 361 percent year-on-year to 35.3 billion won, while net profit soared by 1,233 percent to 147.8 billion won. It is analyzed that this increase in net profit is due to the sale of its shares in Anterogen. Bunkwang Pharm made a net profit of 37 billion won last year when it sold 400,000 Anterogen shares.
"Based on current growth in sales, we diversified our sales portfolios by expanding our introduced items and increasing our performance," said a representative for the company.
Bunkwang Pharmy has been focusing on R&D business since CEO Yoo took office. Although the percentage of investments for R&D was only 9.69% until 2014, it gradually increased to 14.04% in 2015 and 18.36% in 2016.
"We are on a virtuous cycle where we can invest in new drug development with stronger financial soundness and R&D revenues. Let's build a No. 1 pharmaceutical company with expansion of new drug pipeline and improvement of company brand value," said Yoo at a ceremony marking the 58th anniversary of the company's foundation at the end of last year.