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Photo = Yonhap news |
[Alpha Biz= Kim Sangjin] Hanmi Pharmaceutical has once again set a record for sales in 2023, following its achievements in 2022 and 2023, but its operating profit saw a slight decline.
According to its provisional earnings report, Hanmi Pharmaceutical’s consolidated revenue for 2023 reached 1.4955 trillion won, a 0.3% increase compared to the previous year. However, its operating profit declined by 2.0% to 216.2 billion won, while its net income fell by 13.2% to 143.5 billion won.
In the fourth quarter, revenue and operating profit stood at 351.6 billion won and 30.5 billion won, respectively, reflecting a 16.7% and 56.6% decline from the same period last year. The company attributed these declines to the base effect of the milestone payment (197 billion won) from MSD in 2023 and the later-than-usual flu season.
Hanmi Pharmaceutical’s Chinese subsidiary, Beijing Hanmi Pharmaceutical, achieved annual revenue of 385.6 billion won, operating profit of 82.2 billion won, and net income of 74.2 billion won in 2023. The company explained that the cold medicine sales, typically strong in the fourth quarter, were affected by the delayed respiratory disease outbreak and a base effect from mycoplasma pneumonia, leading to a temporary sales slowdown.
Looking ahead to 2024, Hanmi Pharmaceutical plans to continue releasing competitive new products to further enhance its cyclical investment structure, where profits from self-developed products are reinvested into new drug research and development (R&D).
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
