Large Korean biopharmaceutical companies have released their financial reports for the first quarter, demonstrating mixed performances.

Some companies began to recover from the Covid-19’s fallout that has lasted for more than a year, while others remained in the doldrum for various reasons.

Samsung Biologics recorded sales of 260.8 billion won ($235 million), and an operating profit of 74.3 billion won in the first quarter of 2021. The company's sales increased by 53.6 billion won, or 26 percent, from the same period of 2020, thanks to expanded sales following the full operation of its third plant.

Operating profit also rose by 117 billion won, showing a 19 percent growth. The company explained that the stable operation of the first and second plants and earlier-than-expected order receipts by the third plant worked to improve its performance.

"We are examining various plans to expand and diversify our business to provide better service for customers,” Samsung Biologics CEO John Rim said, 

Daewoong Pharmaceutical recorded 269.6 billion won in sales, up 4.7 percent year to year. Its operating profit surged 305 percent to 22.6 billion won.

Daewoong’s operating profit surpassed 20 billion won for the first time in eight years. The company maintained solid sales of both ethical-the-counter (ETC) and over-the-counter (OTC) drugs. Besides, it received payments for Fexuprazan from Chinese importers while reducing ITC litigation costs. Fexuprazan is a medicine for treating gastroesophageal reflux disease.

"Daewoong Pharmaceutical's sales, which had been somewhat sluggish due to various negative factors, began to improve," a company official said. "Our botulinum toxin (BTX) product Nabota has the potential to advance further in the U.S. market, and we also expect that its performance in Europe and China will prove successful."

The company also has high expectations over its new drugs, such as Foistar Tablet and niclosamide, which are being developed as a treatment for Covid-19, with Fexuprazan and Enavogliflozin, the official added.

Huons Global maintained its robust sales in the first quarter despite an uncertain business environment caused by the Covid-19 pandemic.

The company sold products worth 131.6 billion won in the first three months, marking a 13 percent increase from a year ago. Its operating profit also rose 9 percent to 20.5 billion won.

The improved sales of new health functional foods and aesthetics product Humedix’s brisk sales led the overall growth, Huons Global said. The company also plans to sign an agreement on consigned manufacturing of Russia's Covid-19 vaccine Sputnik V, expecting it would lead to a new leap forward as the company proceeds with the domestic approval process.

Other companies showed not so satisfactory performances in the Jan.-March period.

GC Pharma reported that its sales in the first quarter dropped 8.3 percent from a year ago to 282.2 billion won, with operating profit remaining at 5 billion won.

The company said it had a temporary sales drop in the vaccine business, adding that the contract for importing vaccines to the domestic market came to an end at the end of last year. Importers in the southern hemisphere wanted its flu vaccine supply in the second quarter, unlike the previous year, the company said.

However, the overseas sales of Hunterase, a treatment for Hunter syndrome, increased more than four times in the first three months, thanks to demands in Japan and China.

A GC Pharma official said, "Our quarterly performance will likely vary this year due to factors that can significantly affect the outcome."

Hanmi Pharmaceutical’s sales also dropped 6.2 percent year on year to 270.3 billion won due to the sluggish performance of its respiratory products and slumping exports caused by the Covid-19.

However, the company's operating profit rose 4.2 percent to 29.9 billion won, with its net profit surging 101.7 percent to 23.2 billion won.

"We are continuing to show a substantial profit growth with our competitive products despite poor marketing environment due to Covid-19," Hanmi Pharmaceutical CEO Woo Jong-soo said. "We will push ahead with the management philosophy of investing for innovation."