Hanmi Pharmaceutical (128940.KS) extended its growth streak in the first nine months of the year, posting cumulative revenue of 1.2376 trillion won ($867 million) on the strength of its prescription drug business.
The company said in a regulatory filing on the 27th that preliminary third-quarter results on a consolidated basis showed revenue of 377.4 billion won, operating profit of 37.8 billion won and net profit of 14 billion won. Revenue rose 4.2% from a year earlier, while operating profit and net profit fell 31.3% and 69.1%, respectively. Cumulative revenue for the first three quarters came to 1.2376 trillion won.
Hanmi Pharmaceutical's cumulative outpatient prescription revenue for the first three quarters reached 783.5 billion won, according to pharmaceutical market researcher UBIST. By product, Rosuzet, a combination drug for dyslipidemia, generated 65.2 billion won in third-quarter outpatient prescription revenue, up 10.6% from a year earlier. The Amosartan family of hypertension treatments and the Esomezol family of gastroesophageal reflux disease treatments posted outpatient prescription revenue of 38.2 billion won and 15.2 billion won, respectively.
Hanmi Fine Chemical, the group's active pharmaceutical ingredient affiliate, reported third-quarter revenue of 22.8 billion won, up 32.6% from a year earlier. Both operating profit and net profit swung to a surplus, helped by an expansion in new contract development and manufacturing organization orders, even as competition intensified in the cephalosporin antibiotics market.
Hanmi Pharmaceutical runs more than 30 pipelines in new drug development, spanning obesity and metabolic disease, rare disease and oncology. The company is also pursuing its H.O.P., or Hanmi Obesity Pipeline, project to develop follow-on obesity treatments, alongside Efe, a GLP-1 class obesity drug recently approved in South Korea.
"As a leading R&D-focused pharmaceutical company in Korea, we will continue to innovate to secure future growth engines," an official at Hanmi Pharmaceutical said. "We will keep concentrating our capabilities on new drug research and development and work to enhance shareholder value to sustain growth."