Daewoong Pharmaceutical reported an all-time high in both sales and operating profit for the second quarter, with sales reaching 325.5 billion won ($241.1 million) and operating profit hitting 49.6 billion won. The operating profit grew by 37.1% compared to the same period last year, achieving a record-high operating profit margin of 15.2%.
The company’s strong performance is attributed to its strategic emphasis on three key innovative drugs: Nabota, Fexuclu, and Enblo. By increasing the share of proprietary products, Daewoong has bolstered its financial stability and market presence.
Nabota, a botulinum toxin product approved by the FDA as a ‘biological new drug,’ saw sales surge to an all-time high of 53.1 billion won, marking a 62% increase from last year. The product has established a strong foothold in the US and recently expanded into five major European markets—UK, Germany, Italy, Austria, and Spain—covering 70% of the region’s market. Additionally, Nabota entered the Oceania market with its launch in Australia.
Fexuclu, the 34th domestic new drug, achieved sales of 33.2 billion won in the second quarter, growing by 165% year-over-year. As the fastest-growing treatment in the P-CAB class for gastroesophageal reflux disease, Fexuclu is set to meet its annual sales target of 100 billion won.
Enblo, Daewoong’s 36th domestic new drug, has outperformed multinational competitors’ diabetes treatments, proving more effective in lowering blood sugar and glycated hemoglobin. It is making significant inroads in the diabetes market, particularly among patients with mild to moderate renal impairment.
CEO Lee Chang-jae emphasized the company’s commitment to sustaining growth despite challenging economic conditions, citing the success of Daewoong’s innovative drugs as the cornerstone of its robust quarterly performance. The company plans to continue its upward trajectory in the second half of the year by fostering an “innovative growth structure” that drives consistent quarterly improvement.
