Hanmi Pharm. made an announcement on Feb. 7 that it achieved 1.113 trillion won in sales, 103.9 billion won in operating profit and 63.9 billion won in net profit last year despite the economic slowdown at home and abroad.
It marks the first time that its operating profit has surpassed 100 billion won since large-scale technology exports in 2015.
"Sales, operating profit, and net profit increased by 9.6 percent, 24.3 percent and 86.8 percent year-on-year, respectively," a Hanmi Pharm. official said. "In particular, its R&D investment came to 209.8 billion won (18.8 percent of sales), the highest level among domestic pharmaceutical and bio companies."
Its favorable performance is attributed to the expansion of its sales of specialty drugs through differentiated product-based, ground-based marketing and the continued growth of its Chinese unit in Beijing. Analysts say that solid performance is leading its R&D investment model, which is in a virtuous cycle as an investment to develop innovative new drugs.
Its Chinese unit in Beijing saw its sales grow 11.5 percent on-year to 254.4 billion won last year, with operating profit of 43.6 billion won and net profit of 37.4 billion won. Operating profit and net profit rose 1.4 percent and 1.1 percent on-year, respectively. R&D investment amounted to 25 billion won, or 9.8 percent of its sales.
"Despite the economic downturn at home and abroad, we continue to maintain stable growth based on differentiated self-development products," said Woo Jong-soo, CEO of Hanmi Pharm. Woo added, “Our company will continue stepping up its challenge toward the pharmaceutical powerhouse through sustainable growth based on innovation.”