(Health Korea News / Chang-yong Lee) While Daewon Pharmaceutical showed growth in its operating performance in the third quarter of this year, the anti-inflammatory painkiller ‘Pelubi’ and the antitussive expectorant ‘Kodaewon Forte/S’ were found to be the main products that boosted performance.
Kiwoom Securities said in a corporate brief on the 14th that the sales growth rate of the two products in the third quarter increased by more than 50% compared to the same period last year, and predicted that it will continue to rise in the fourth quarter.
According to the report, sales of ‘Pelubi’ in the third quarter of 2024 recorded 15.9 billion won, growing 57.8% compared to the same period last year. It is analyzed that sales increased due to the reflection benefit from the deletion of acute upper respiratory tract inflammation antipyretic indication coverage for the competing ingredient ‘loxoprofen’, which was decided in December 2023.
The surge in cold medicine prescriptions due to the resurgence of COVID-19, which was prevalent in August, also appears to have contributed to this sales growth. Kiwoom Securities predicted ‘Fellubi”s sales in the fourth quarter of this year to be 20.9 billion won, a 59.5% increase from the third quarter.
‘Kodaewon Forte/S’ recorded sales of 24.1 billion won in the third quarter, showing a 63.5% growth compared to the same period last year. Like ‘Felubi’, it benefited from the COVID-19 resurgence.
Shin Min-soo, an analyst at Kiwoom Securities, said, “Although it is November when the college entrance exam cold wave has disappeared, the temperature has dropped after rain on the weekend, and we will be able to see the effect of the cold medicine peak season in the fourth quarter,” predicting Kodaewon Forte/S’s sales in the fourth quarter of this year to be KRW 28 billion. did it This is a 2.5% increase from the third quarter.
The sales outlook for ‘Shinbaro’, a natural medicine for treating osteoarthritis, of which Daewon Pharmaceutical acquired ownership from GC Green Cross, is also bright. In October 2024, Daewon Pharmaceutical signed an asset transfer agreement with Green Cross for ‘Shinbaro’, an oral osteoarthritis treatment derived from natural products.
As a result of the asset transfer agreement, Daewon Pharmaceutical effectively gained exclusive domestic sales rights for ‘Shinbaro’. The plan is to convert ‘Shinbaro’, which can create a synergy effect with ‘Pellubi’ in the field of orthopedic treatment, from a commercial product to its own product.
Daewon Pharmaceutical is currently engaged in the business of prescribing ‘Sinbaro’, a natural product medicine, as a long-term medicine after prescribing it in combination with ‘Pelubi’. Even if the same drug is sold, it is expected that the company will be able to earn a higher margin as its own product.
Meanwhile, major products excluding ‘Pellubi’ and ‘Kodaewon Forte/S’ are also growing in the third quarter of this year.
Sales status of Daewon Pharmaceutical’s major products in the third quarter of 2024
① Felubi (anti-inflammatory painkiller): KRW 15.9 billion, up 54.43% from the same period last year (KRW 10.1 billion in the third quarter of 2023)
② Kodaewon Fortes (respiratory system medicine): KRW 24.1 billion, up 63.95% from the same period last year (KRW 14.7 billion in the third quarter of 2023)
③ Alpocholine (psychotic nervous system drug): KRW 3.4 billion, down 15% compared to the same period last year (KRW 4 billion in the third quarter of 2023)
④ S1AMP (digestive system medication): KRW 4.9 billion, up 8.89% from the same period last year (KRW 4.5 billion in the third quarter of 2023)
⑤ Renamezine (uremia symptom improvement agent): KRW 4 billion, up 2.56% from the same period last year (KRW 3.9 billion in the third quarter of 2023)
⑥ TGphenone (circulatory system medicine): KRW 3.5 billion, up 2.95% compared to the same period last year (KRW 3.4 billion in the third quarter of 2023)
⑦ Otylen/Othylen F (medication for digestive system): KRW 2.6 billion, 30% increase compared to the same period last year (KRW 2 billion in the third quarter of 2023)
⑧ Classin (antibiotics and chemotherapy drugs): KRW 3.1 billion, up 55% compared to the same period last year (KRW 2 billion in the third quarter of 2023)
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Source: www.hkn24.com
