HanAll Biopharma said Thursday that the monthly sales of its hair loss treatment, Hairgrow (finasteride), have exceeded 1 million tablets.

It marked the largest sales volume since its launch in 2007. In 2022, the sales volume of Hairgrow has grown 20 percent on annual average for about five years. In recognition of the product’s strength, Hairgrow was ranked in the top five annual physician prescriptions for finasteride 1mg for five consecutive years from 2018 to 2022.

Hairgrow treats male baldness (androgenetic alopecia) in adults aged 18 to 41. It has been recognized for its efficacy and safety with proven bioequivalence and lower patient burden.

HanAll’s other hair loss treatment products, Adamo Tab (dutasteride) auxiliary hair loss treatment Pangrow Tab, also recorded growth rates. In particular, Pangrow was nominated for the “Korea First Brand Award 2024” in the oral hair loss treatment category organized by the Customers Council.

"The market has recognized us for our cost competitiveness, thorough quality control, and stable mass production capabilities since we launched a dedicated production line for hair loss treatment last year," Co-CEO Park Su-jin said. "We will expand our share of the domestic hair loss treatment market and establish ourselves as a specialized hair loss treatment company by 2025."

In March last year, HanAll BioPharma strengthened its production capacity by launching a production line dedicated to hair loss treatment. In addition to the dedicated line, which is completely separated from the general drug production line, the company has secured mass production capacity and quality control capabilities by introducing a sealed system and automating the entire process, according to HanAll Biopharma.