Boryung, Last Year’s Sales 760.5 Billion Won and Operating Profit 56.6 Billion Won…Record Figures
Based on consolidated financial statements
Boryung achieved record sales and operating profit last year.
According to Boryung on February 6, based on consolidated financial statements, the company recorded 760.5 billion won in revenue and 56.6 billion won in operating profit last year, up 21% and 37% year-on-year, respectively. The year-to-date results were 721 billion won in revenue and 60.3 billion won in operating profit.
The company explained that the growth was remarkably high in that it skipped the 600 billion won mark and jumped straight into the 700 billion won mark from a 594.4 billion won revenue in 2021 (based on separate financial statements).
The strong performance was driven by a stable revenue structure made possible by a portfolio of prescription drugs focused on chronic diseases (cardiovascular, diabetes, cancer and psychiatry).
Hypertension new drugs, the Kanarb family generated 130.2 billion won in sales last year with a line-up of six products, including single-therapy Kanarb. This is a 19% year-on-year growth.
The anti-cancer section grew 61% year-on-year to 160.6 billion won.
The Central Nervous System (CNS) business recorded sales of 26.6 billion won, led by Zyprexa. This represents a 127% year-on-year growth.
The generics business is also sailing smoothly.
Based on the growth of the Younggaksan brand, which generated sales of 28.2 billion won in 2021, the generics grew to 29.8 billion won in 2022. The Youngaksan brand grew 38% year-on-year last year thanks to increased demand for emergency household medicines as a result of the Omicron outbreak and COVID-19 self-isolation.
Mr. Jang Doohyun, CEO of Boryung Pharmaceutical, said, "By building a business structure with the highest level of profitability in the industry, we will achieve 1 trillion won in sales and 200 billion won in operating profit early by 2026. We will make 2023 a year to firmly establish ourselves as a sustainable innovation growth company.“
[WIKI KOREA=Cho Pil Hyun, Staff Reporter]