· Achieved the greatest sales and operating profit since company’s establishment
- KRW 108.5 billion in sales and KRW 17.1 billion in operating profit for 2019 (increase of 18.1% and 212.2% respectively from the previous year)
· Sales and profitability improved as a result of increase in drug sales and licensing revenue
HanAll Biopharma (KRX: 009420.KS) announced through submission of its audit report on the 26th that its consolidated sales and operating profit for 2019 were 108.5 billion KRW and 17.1 billion KRW, respectively.
As a result of an increase in licensing revenue and expansion of drug sales, the company’s sales increased by 16.6 billion KRW year-on-year (+18.1%), and operating profit also increased by 11.6 billion KRW (+212.2%).
The licensing revenue for HL161 and HL036, the novel biologic drugs for which the technology had been exported to Roivant Sciences of Switzerland and Harbour BioMed of China in 2017, was 12.7 billion KRW, an increase of 6.6 billion KRW over the previous year. In addition, fueled by the growth of such products as Normix, Eligard, and Alfabon, HanAll Biopharma’s drug sales increased by 9 billion KRW to reach 89.7 billion KRW.
HanAll Biopharma’s licensing revenue has been continuously increasing, from 4.5 billion KRW in 2017 to 6.1 billion KRW in 2018, and to 12.7 billion KRW in 2019. In line with this trend, thus considerably improving the company’s operating profit rate from 4.1% in 2017 to 6.0% in 2018 and to 15.8% in 2019.
“The licensing-out candidates of HL161 and HL036, which are HanAll Biopharma’s key assets, has brought about an improvement in our profitability through an increase in licensing revenue including milestone payments,” a HanAll Biopharma official explained. “This year, we are expecting additional milestone payments from Immunovant and Harbor BioMed, which will lead our performance improvement.”