Hanmi Pharmaceutical said Monday that it recorded sales of 235.3 billion won ($206 million) in the third quarter of this year, a 3.4 percent increase from the same period last year.
The pharmaceutical company also registered 21.5 billion won in operating profit last year, down 22.8 percent from 2017 while posting a net profit of 9.4 billion won, plunging 59 percent.
“Operating profit and net profit declined in the third quarter due to the absence of one-off factors (temporary milestone payment from partners) during the same period of the previous year,” the company said. “However, overall sales growth of main products and Beijing Hanmi Pharm continued to grow steadily.”
According to the company’s accounting standards, R&D investment ratio, excluding royalty income, was 19.8 percent, maintaining the highest R&D investment in the pharmaceutical industry, it added.
Hanmi attributed its stable growth to its three Amosartan lineups (combined hypertension medicines), Rosuzet (hyperlipidemia treatment compound drug), Hanmi Tams (benign prostatic hyperplasia) and Esomezol (reflux esophagitis).
Beijing Hanmi Pharmaceutical’s third-quarter sales grew 2.1 percent year-on-year to 55.1 billion won with operating profit rising 10.3 percent to 9.9 billion won and net profit climbing 0.2 percent to 7.9 billion.
“Excluding one-off factors that occurred in the same period last year, overall growth remains steady,” a company official said. “We will continue our substantial growth by targeting domestic and overseas markets through differentiated products and efficiently managing R&D investments.”