Daewoong Pharmaceutical recorded its highest-ever revenue, operating profit, and net profit last year, driven by the remarkable growth of its new drugs, including Fexuclu and Envlo, as well as the continued expansion of its botulinum toxin (BTX) product, Nabota, in global markets.

The company said it posted 1.26 trillion won ($868.1 million) in sales and 163.8 billion won in 2024, up 3.6 percent and 23 percent from the previous year. However, the company’s net profit fell 61 percent to 43.1 billion won.

Daewoong’s prescription drug lineup achieved 860.5 billion won in revenue, reaffirming its dominant position in the market. Growth was evenly distributed across major products, including new drugs Fexuclu and Envlo, as well as co-promoted items like Crezet, Diabex, Lixiana, and Sevikar.

Fexuclu, Korea's 34th homegrown new drug, surpassed 1 trillion won in global and domestic cumulative sales within just three years of launch, earning blockbuster status.

The drug, designed to overcome the limitations of existing PPI treatments, has rapidly gained market share due to its fast onset, longer half-life, and improved convenience.

Envlo, Korea’s 36th new drug, achieved annual sales exceeding 10 billion won for the first time last year, solidifying its presence in the SGLT-2 inhibitor market with strong blood sugar-lowering effects.

Ursosan, a drug that treats liver diseases such as primary biliary cirrhosis (PBC), primary sclerosing cholangitis (PSC), and cystic fibrosis (CF)-related cholestasis, generated 96.2 billion won in revenue and is expected to reach the 1 trillion won milestone this year.

Daewoong’s botulinum toxin Nabota continued its impressive growth in global markets, securing its status as a ‘major toxin’ brand. In 2024, Nabota recorded 186.4 billion won in sales, marking 27 percent compared to the previous year. Export sales accounted for approximately 84 percent of the total revenue.

In the U.S., the world’s largest botulinum toxin market, Nabota achieved a 13 percent market share in the cosmetic toxin segment, ranking as the second-largest player. Further expansion efforts have also occurred in the Middle East, with Nabota officially launching in Saudi Arabia, the region’s biggest botulinum toxin market, in Jan. 2024.

Daewoong said it aims to drive further growth through high-purity, high-quality products and strong partnerships with global distributors.

Beyond pharmaceuticals, Daewoong is expanding into the digital healthcare sector, a rapidly growing field driven by AI advancements and aging populations.

The company recently became the first in Korea to obtain insurance reimbursement for a locally developed digital healthcare device, the “thynC” remote cardiac monitoring system.

Other key products in its digital lineup include the continuous glucose monitor FreeStyle Libre, wearable ECG device Mobicare, ring-type continuous blood pressure monitor Cart BP, and AI-based blindness diagnosis assistant WhisKey.

Mobicare leads the domestic wearable ECG market with over 840 hospital partnerships, and more than 1,200 clinics have adopted Cart BP within just four months of its launch.

Daewoong is also intensifying its investments in new drug development.

The company is developing a first-in-class idiopathic pulmonary fibrosis treatment, “Bersiporocin” (DWN12088), which has received orphan drug and fast-track designations from the U.S. Food and Drug Administration and is undergoing phase 2 clinical trials.

Other promising pipeline candidates include “DWP216,” Daewoong’s first in-house developed anticancer drug, and “DWP220,” an oral treatment for severe liver fibrosis, both of which have been selected as national new drug development projects. The company is also working on an oral GLP-1/GIP dual agonist, a long-acting injectable, and a microneedle patch to enhance its metabolic disease and obesity treatment portfolio.

“Our three innovative drugs—Fexuclu, Envlo, and Nabota—have driven our success, while traditional products like Ursosan have also performed well, allowing us to achieve an unprecedented result for two consecutive years,” Daewoong Pharmaceutical CEO Lee Chang-jae said. “We will continue investing in the rapidly growing digital healthcare sector and focus on developing innovative new drugs to transform Daewoong into a global healthcare leader beyond Korea.”