Hanmi Pharmaceuticalㆍ Dong-A ST also underachieved
Green Cross Corp. alone grew by double-digit
Exports of 5 companies fell 2.2%p
Last year, the export performance of top pharmaceutical companies decreased notably in the aftermath of COVID-19.
The pharmaceutical sector enjoyed a boom by recording a surplus for the first time in the second half of the year, but as demand was concentrated on diagnostic reagents and vaccines, other products seemed to be relatively sluggish.
Newsmp compiled the exports of five high-ranked pharmaceutical companies (Yuhan Corporation, Green Cross Corporation, Daewoong Pharmaceutical, Hanmi Pharmaceutical, Dong-A ST) whose export performance was disclosed through their annual reports and securities firms’ reports, and found that annual exports fell by more than KRW 100 billion from KRW 807.1 billion in 2019.
Daewoong Pharmaceutical’s exports plunged 74.8% from KRW 58.8 billion to KRW 14.8 billion YoY, while Yuhan Corp. also shrank 24.1% from KRW 205.6 billion to KRW 156 billion.
Moreover, Hanmi Pharmaceutical and Dong-A ST each fell 9.4% from KRW 167.8 billion to KRW 152 billion and KRW 162 billion to KRW 146.8 billion.
On the other hand, exports of Green Cross Corp. was up 13.3% from KRW 212.9 billion in 2019 to KRW 241.3 billion due to increased demand for vaccines.
Meanwhile, due to the decrease in exports, export performance to total sales has also dropped. The average share of exports of the five companies declined by 2.2%p YoY from 15.1% to 12.9%.
Yuhan Corp. fell 4.3%p from 13.9% to 9.6%, while Daewoong Pharmaceutical also went down 4.3%p from 5.9% to 1.6%.
The share of Hanmi Pharmaceutical’s exports also fell 2.0%p to 17.4% and Dong-A ST 1.5%p from 26.5% to 25.0%, whereas Green Cross rose 0.5%p from 15.5% to 16.0%.
