Daewoong Pharmaceutical Co., Ltd. Accelerates Nabota’s Growth Engine, Delivering Highest Quarterly Performance Ever


Daewoong Pharmaceutical Co., Ltd. beat its highest quarterly operating revenue (separate standards) for the 1st and 2nd consecutive quarters this year, as its sales also hit an all-time high quarterly. The continued growth of the ETC sector, the strong increase in Nabota botulinum toxin exports and the favorable exchange rate propelled the company’s operating income and improved profitability.

The ETC segment recorded a 5.5% year-on-year increase in revenue, totaling 205.8 billion won contrary to 195.1 billion won. Profitable products such as Crejet, the treatment for hyperlipidemia, Ususa, the liver supplement, Diabex, the treatment for diabetes, and Anplone, the anti-thrombotic drug, recorded annual growth of more than 10%, as well than more than 30% in sales of Forxiga, the diabetes treatment distributed by the company.

Nabota Botulinum Toxin Solution achieved revenue of 37.1 billion won, a 60% year-on-year increase from 23.2 billion wonwhose exports recorded an annual growth of 105% 14.2 billion won at 29.2 billion won. Due to increased local shares and awareness, exports to US trading partner Evolus doubled year-on-year to 21.1 billion won and took a favorable turn of exports in South East Asia and Latin America. Nabota will enter primary botulinum toxin markets such as Europe, Turkeyand Chile in the third and fourth quarters and overseas sales are expected to increase further.

In addition, Fexuclue, a new drug for gastroesophageal reflux released earlier this month by Daewoong Pharmaceutical Co., Ltd., is expected to act as a positive factor for good results in the second half. Daewoong Pharmaceutical Co., Ltd. is now accelerating the expansion of its market share Fexuclue. In the domestic market, Daewoong Pharmaceutical Co., Ltd. uses various channels to actively promote the unique features of Fexuclue Tab. to medical personnel across the country. For overseas markets, it quickly accepted technology exports worth 1.1 trillion won to 15 countries in the world, planning to gradually expand its export range to become a new global flagship drug.

The OTC sector recorded a turnover of 34.3 billion wonan increase of 19.9% ​​over one year compared to 28.6 billion won. Due to COVID-19, the fever reducer Ezn6 was up 45% year over year, while the liver supplement Urusa was up more than 30% year over year. Health functional foods also saw 100% year-over-year growth, and offline distribution of Enerthistle, a brand specializing in liver health, will be expanded in the second half.

Daewoong Pharmaceutical Co., Ltd. strengthens its engine of growth by investing 33 billion wonor 11.2% of sales, in research and development, which generates tangible results such as Fexuclue Tab., the 34th new national drug developed internally.

Daewoong Pharmaceutical said the expansion of Nabota’s market share and exports in key global botulinum toxin markets, including the United States, led to record quarterly sales and operating income and Daewoong Pharmaceutical expects company growth and revenue to increase when Nabota launches in Europe.

SOURCE Daewoong Pharmaceutical Co.,Ltd

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