Major tectonic shifts were noticed in the rankings of top 10 South Korean biologics and pharmaceutical firms in the first quarter this year, according to latest data Tuesday.
Almost every company had their placements readjusted based on their first-quarter earnings reports.
Celltrion soared to the top with revenue of 372.8 billion won ($304 million) from last year’s seventh spot at 221.7 billion won.
Yuhan, which sat on the top last year with 345 billion won revenue, slid to the second place with 313.3 billion won. Yuhan’s operating profit decreased 82 percent on-year, but was offset by net profit which increased 636 percent.
The company credited the 115.3 billion won net profit to license-out payments from Janssen, Boeringher Ingelheim and Gilead, as well as a disposal of its land. Its net profit surpassed that of Celltrion’s 105.4 billion won and Dong-A ST’s 46.4 billion won, who ranked second and third, respectively, in terms of net profit.
GC Pharma retained its third place, with its revenue rising 8.6 percent on-year to 307.8 billion won. Its operating profit rose 283 percent, but it posted a net loss. GC Pharma recently announced it would give out its COVID-19 treatment, currently under development, for free to domestic patients, renouncing any profits.
Kwang Dong Pharmaceutical, slid from second to fourth place this year, despite a 2.3 percent increase in its revenue from 294 billion won to 300.7 billion won.
Chong Kun Dang rose from sixth to fifth spot, nabbing 293.4 billion won revenue, a 25.4 percent increase on-year.
Hanmi Pharmaceutical was down from fourth to sixth position, while Daewoong Pharmaceutical also fell from fifth to seventh place. Its net profit decreased 33 percent while Daewoong’s fell 55 percent.
Samsung Biologics, which ranked 10th last year, rose to the eighth position.
Dong-A ST maintained its ninth spot, while Jeil Pharmaceutical which was in eight place last year rounded out the 10th spot in the first quarter.
By Lim Jeong-yeo (email@example.com)