Hanmi Pharm reported a groundbreaking performance for 2023, with consolidated sales and operating profit reaching 1.49 trillion won ($1.1 billion) and 220.7 billion won, up 11.97 percent and 39.5 percent from the previous year, thanks to royalties and strong domestic sales.

The company also reported a net profit of 159.3 billion won, up 56.8 percent.

Hanmi attributed its stellar performance to a combination of milestone payments from MSD for the clinical phase 2b entry of efinopegdutide, a metabolic disease therapy, and the sustained growth of its self-developed improved and combination drugs.

Domestically, Hanmi continued its dominance in the prescription drug market, marking its sixth consecutive year as the leader in outpatient prescriptions in Korea.

The company reported significant sales from its leading products, including Rosuzet, a treatment for dyslipidemia (178.8 billion won), the Amosartan lineup, a treatment for hypertension, (141.9 billion won), Esomezol, a treatment for gastroesophageal reflux disease, (61.6 billion won), and non-reimbursed drugs such as Palpal and Gugu for erectile dysfunction (42.5 billion won and 21.7 billion won)

Further bolstering Hanmi's achievements, its subsidiary in Beijing Hanmi Pharm reported unprecedented sales nearing 400 billion won, largely driven by the surge in respiratory diseases, including mycoplasma pneumonia in China.

Looking ahead, Hanmi Pharm plans to continue sustained growth with a continued focus on expanding its lineup of self-developed combination drugs, including a new aspirin and PPI combination product, while maintaining a robust R&D pipeline of over 30 innovative drugs.

The company is aggressively pursuing R&D in areas such as its Hanmi Obesity Pipeline (H.O.P), targeted and oncology drugs, and treatments for rare diseases.

"We are strengthening our ideal business model of reinvesting profits from self-developed products into future R&D efforts," a Hanmi Pharm official said. "As we mark our 50th anniversary this year, we are committed to presenting ourselves as a role model for the Korean pharmaceutical and biotech industry through solid leadership, organizational strength, and the collaborative efforts of our talented employees."

Meanwhile, Hanmi Group's holding company, Hanmi Science, also reported impressive figures for 2023, with sales of 1.24 trillion won, operating income of 125.1 billion won, and net income of 115.8 billion won.

Transforming into a business holding company, Hanmi Science has been active across various sectors, including medical devices, health supplements, food, and digital healthcare, contributing to the group's sustainable growth alongside its subsidiaries, Onlinepharm and JVM, which have also achieved record-breaking performances.