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Korean pharmaceutical companies struggled in 1Q compared to multinational firms
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Korean pharmaceutical companies struggled in 1Q compared to multinational firms
  • Hyeokgi Lee, Newsmp
  • 승인 2021.05.26 18:05
  • 댓글 0
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Slump of big Korean companies… Major foreign firms grew 4.1%
A different trend from the outpatient prescription market due to increased sales of antibody drugs    

Korean companies struggled in the pharmaceutical market in the first quarter compared to foreign companies.

According to IQVIA, the total size of the pharmaceutical market in 1Q was KRW 5.1493 trillion, up 1.6% YoY.

The sales of multinational pharmaceutical companies in Korea amounted to KRW 2.1300 trillion, up 3.4% YoY, more than twice the average growth.

On the other hand, the combined sales of Korean companies rose only 0.4% to KRW 3.2 trillion, almost remaining stationary.

In particular, big Korean companies have left poor performance. The sales of Korean top 10 companies reached KRW 1.33 trillion, down 0.1% from a year earlier.

The sales of Korean companies other than the top 10 were KRW 1.987 trillion, freed from a decline, but the growth was only 0.6%.

Unlike Korean companies, high-ranked multinational firms have left better grades. The sales of the top 10 companies increased 4.1% YoY to KRW 1.1263 trillion.

Other than the top 10 firms, multinational companies also had more than KRW 1 trillion in sales, growing 2.6% YoY, and exceeded the average market growth rate.

The atmosphere is contrary to the outpatient prescription market, in which Korean companies earlier left better performance than multinational firms.

Major antibody drugs are located in the background of the outpatient prescription.

Major antibody drugs that are not counted in outpatient prescriptions continued to grow despite the spread of COVID-19 and led to the growth of large multinational pharmaceutical companies.

In the first quarter, Keytruda (MSD) grew to KRW 44 billion, Humira (Abbvie) recorded double-digit growth, and Perjeta (Roche) and Prolia (Amgen) surpassed KRW 20 billion with a growth of 30~40%.

As a result, multinational pharmaceutical companies with major antibody drugs relatively delivered a favorable performance.

MSD’s sales in 1Q increased 10.4% YoY to KRW 203.3 billion and exceeded KRW 200 billion with a double-digit growth rate.

Among large pharmaceutical companies that made more than KRW 100 billion in sales in 1Q, MSD is the only company that recorded double-digit growth. It is the highest growth rate while being the market leader.

Chong Kun Dang Pharmaceutical grew 3.3% to KRW 154.4 billion, leading the Korean market, followed by Hanmi Pharmaceutical with KRW 142.8 billion.

Sanofi Aventis grew 6.3% to KRW 132.7 billion, reaching to KRW 130 billion mark, Roche to KRW 124.5 billion, and AstraZeneca to KRW 123.6 billion.

JW Pharmaceutical and HK inno.N maintained KRW 100 billion mark by KRW 114.3 billion and KRW 103.8 billion, and GC Pharma and Daewoong Pharmaceutical have entered KRW 100 billion mark with KRW 101.2 billion and KRW 100.2 billion.

Viatris posted KRW 93.6 billion and Yuhan Corporation KRW 90.9 billion, while Janssen rose from KRW 75.1 billion to KRW 82 billion, and Boehringer Ingelheim remained at KRW 80 billion.

Dong-A ST, which made KRW 100 billion mark in sales in 1Q of last year, fell to KRW 80 billion, followed by Pfizer with KRW 78 billion, Boryung Pharmaceutical with KRW 77 billion, Bayer with KRW 76.5 billion, GSK with KRW 73.1 billion, and Astellas with KRW 70.6 billion.

Moreover, Handok posted KRW 68.7 billion, ILDONG Pharmaceutical KRW 68.6 billion, Takeda KRW 65.8 billion, Celltrion Pharm KRW 63.2 billion, Dongkook Pharmaceutical KRW 56.0 billion, LG Chem KRW 55.8 billion, SK Chemicals KRW 54.3 billion, Daewon Pharmaceutical KRW 53.1 billion, and Hutecs Korea Pharmaceutical KRW 51.6 billion, and a total of 30 companies made more than KRW 50 billion in sales in 1Q.


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