On the 29th, HANDOK Inc. released a preliminary announcement stating that its third-quarter revenue on a standalone basis was 137.1 billion won, with an operating profit of 3.8 billion won. While revenue decreased by 2.67% compared to the same period last year, operating profit increased by 1,207.1%.
The decline in revenue was influenced by the discontinuation of the flu vaccine business. In the third quarter of last year, flu vaccine sales totaled 8 billion won; the company explained that, excluding this, total revenue for the third quarter of this year increased by 3.2% compared to the same period last year.
By business segment, sales of prescription drugs totaled 89.6 billion won, a 2.5% decrease compared to the same period last year. However, sales excluding the flu vaccine increased by 6.8% during the same period. The newly introduced anticancer drugs Eloxatin and Zaltrop recorded sales of 8.1 billion won and 700 million won, respectively. Sales of treatments for rare diseases, such as Galafold, reached 3.8 billion won, a 43.5% increase from the same period last year.
During the same period, sales of the diabetes treatment Tenelia rose 4.5% to 12.4 billion won. Sales of the hypertension treatments Aprovask and Aprobel also grew 12.8% to 6.4 billion won.
Sales of over-the-counter (OTC) drugs decreased by 3.2% to 18.1 billion won. Sales of Ketotop, the company’s flagship analgesic and anti-inflammatory drug, increased by 9.6% to 13.3 billion won; however, this was offset by a decline in revenue resulting from the discontinuation of the medical nutrition business. Sales of the digestive aid Festal rose by 1% to 3.6 billion won.
Revenue in the medical devices and diagnostic reagents segment rose 3.6% to 21.4 billion won. Sales of the continuous glucose monitor Barozen Fit grew 62.4% to 2.0 billion won. Revenue from exports, contract manufacturing, and other sources decreased 16.4% to 8.1 billion won.
