Unlisted pharmaceutical companies largely reduced donation amounts
11 out of 15 companies spent less… 10.6 billion won → 5.3 billion won
Unlike listed pharmaceutical companies that expanded their charitable contributions last year despite the financial difficulties caused by COVID-19, major unlisted pharmaceutical companies reduced their donations.
According to Newsmp’s tally of donation spending based on audit reports and annual reports of major unlisted pharmaceutical companies, more than two-thirds of the 15 companies have reduced donations compared to 2019.
The 15 companies are HK inno.N, Kuhnil Pharmaceutical, Daewoong Bio, Dongkwang Pharmaceutical, Dong-A Pharmaceutical, Myungin Pharmaceutical, Boryung Biopharma, Unimed Pharmaceuticals, Yooyoung Pharmaceutical, Yuhan Chemical, Kolmar Pharma, Korea Prime Pharm, Hutecs Korea Pharmaceutical, Hanlim Pharmaceutical, and Hanmi Fine Chemical.
Only four companies increased their donation spending from 2019, and the total donation spending of 15 companies fell by half from 10.6 billion won in 2019 to 5.3 billion won last year.
HK inno.N, which has the largest amount of donation among the 15 companies, reduced by 46.5 billion won from 64.7 billion won to 18.2 billion won.
Daewoong Bio reduced more than 400 million won from 418 million won to 15 million won, Unimed Pharmaceuticals from 933 million won to 511 million won, and Hanlim Pharmaceutical also lowered 72 million won from 11.37 billion won to 1.65 billion won.
The donations from Boryung Biopharma and Kolmar Pharma, which spent only 5 million won and 2 million won in 2019, have disappeared in 2020.
Dongkwang Pharmaceutical, Dong-A Pharmaceutical, Myungin Pharmaceutical, Yuhan Chemical, and Korea Prime Pharm also reduced their donations from 2019.
Meanwhile, Hutecs Korea Pharmaceutical’s donations fell below 50 million won in 2019 but increased six-fold to 345 million won last year.
Hanmi Fine Chemical Yooyoung Pharmaceutical also increased their donations, and Kuhnil Pharmaceutical exceeded 50 million won.