Hanmi Pharmaceutical said Tuesday that it recorded sales of 265.7 billion won ($228.4 million) in the third quarter of this year, up 12.9 percent from the same period of last year.
The company also registered 24.9 billion won in operating profit, up 16 percent while posting a net profit of 8.9 billion won, a drastic 33.9 percent decrease. Its R&D investment increased to 52.3 billion won.
|Hanmi headquarters in Bangi-dong, eastern Seoul.|
“As the cumulative sales for the first three quarters stood at 810.7 billion won, we expect annual sales will surpass 1 trillion won in 2019,” the company said.
Although there were market concerns about the third-quarter earnings because of the completion of the down payment for the license out a contract with Genentech in April, Hanmi could maintain reliable performance thanks to its in-house products, the company added.
Beijing Hanmi Pharmaceutical, Hanmi’s Chinese subsidiary, also recorded strong sales. The Chinese offshoot marked the sales of 60 billion won and an operating profit of 10.3 billion won. Hanmi Fine Chemical also posted sales of 23.6 billion won.
“Thanks to the performance of independently developed products such as Amosartan lineup and Rosuzet, the company is growing steadily, offsetting negative outside influences such as the reduced inflow of fees that spawn from licensing out agreements,” Hanmi Pharmaceutical CEO Woo Jong-soo said.