Hanmi Pharm's cumulative sales in the first nine months of 2023 posted a record high of 1.1 trillion won ($810 million) on the back of robust prescription drug sales growth, the company said on Wednesday.

If this revenue growth trend continues, the company’s annual sales are expected to set a new high beyond last year's 1.3 trillion won, industry watchers said.

Hanmi Pharm’s third-quarter sales posted 364.6 billion won, an operating income of 57.5 billion won, and a net income of 60.5 billion won. This represents a 6.6 percent year-on-year increase in sales, a 22.9 percent growth in operating profit, and a 93.5 percent jump in net profit.

Cumulative sales as of the third quarter totaled 1.1 trillion won, up 9 percent year-on-year. This growth was driven by Hanmi's competitive ETC products and drugs developed in-house, the company said. In the third quarter, Hanmi achieved 230.5 billion won in outpatient prescription sales, up 9.3 percent year-on-year.

Meanwhile, Hanmi Science, the holding company of Hanmi Group, also posted its best-ever results for the third quarter, with sales of 309.4 billion won, operating profit of 35.8 billion won, and net profit of 30.8 billion won. This is a 22.8 percent increase in revenue, a 112.7 percent increase in operating profit, and a 101.2 percent increase in net profit compared to last year.

In addition to increasing its corporate value through these strong results, Hanmi Science is also working to enhance shareholder value by recently deciding to repurchase 10 billion won worth of its shares.

In September, Hanmi Pharm invested $3 million in Aptose Biosciences, a biotech based in Toronto, Canada, to develop new drugs, including an acute myeloid leukemia (AML) treatment.