Hanall Biopharma Sees Explosive Growth: Q3 Operating Profit Skyrockets 371.6% to KRW 400 Million

Hanall Biopharma achieved top-line and profitability growth in the third quarter.

Hanall Biopharma announced on the 30th that it recorded operating profit of 430 million won in the third quarter of this year on a consolidated basis, an increase of 371.6% compared to the same period last year. During the same period, sales increased by 11.7% to 33 billion won.

As core items continued to grow, domestic operating sales recorded 34.7 billion won, a 13% increase compared to the same period last year. Probiotic medicine ‘Biotop’, prostate cancer and central precocious puberty treatment ‘Eligard’, and non-absorbable antibiotic ‘Normics’ achieved annual sales of KRW 10 billion. Diabetes and hair loss products also recorded double-digit growth.

In particular, the hair loss treatment drug ‘Hair Gro Tablets’ (ingredient name: finasteride) exceeded 2 million tablets in sales in September, rising from 5th to 2nd place in the ranking of prescriptions by finasteride 1 mg product by pharmaceutical market research agency UBIST.

Eligard, which expanded its indications as a treatment for central precocious puberty, recorded the highest sales ever at KRW 1.46 billion in September, and is preparing to enter phase 4 clinical trials to evaluate long-term safety and efficacy in children with precocious puberty in the fourth quarter.

Seung-won Jeong, CEO of Hanall Biopharma, said, “Through appropriate cost management, we were able to proceed with existing research and development without a hitch,” adding, “We are strengthening product specialization and research and development (R&D) capabilities with the goal of becoming a global company respected around the world.” “We will foster competitiveness through strategy,” he said.