Daewoong Pharmaceuticals, the giant in the pharmaceutical industry, is making waves with its remarkable growth trajectory. If 2015 was referred to as the "Time of Hanmi Pharmaceuticals," when billion-dollar technology exports were unlocked, and 2018 marked the "Time of Yuhan Corporation," with a $1 billion lung cancer drug export (Lazertinib), then 2021 and 2022 undeniably belong to "Daewoong Pharmaceuticals." Their approach differs from the global technology export focus of Hanmi Pharmaceuticals and Yuhan Pharmaceuticals.

At the core of Daewoong Pharmaceuticals' growth strategy is an aggressive promotion of their own products, including two "Best in Class" new drugs with high market potential. Leveraging the strongest sales force in South Korea, they aim to achieve annual sales exceeding $74 million per product and expand into foreign markets, striving for $744 million per product as part of their "1 Product, 1 Trillion Won ($744 million)" plan, signifying annual sales revenue per product.

The recently approved gastroesophageal reflux disease (GERD) drug, Fexuclue, launched in July 2022, is expected to surpass $74 million in sales by December 31st, 2023. Daewoong Pharmaceuticals aims to nurture this into a large-scale product, exceeding $149 million in sales within 2 to 3 years, with full-scale gastric ulcer adaptation operations set to begin in December 2023.

Daewoong Pharmaceuticals' self-developed SGLT-2 diabetes treatment, Envlo, has followed a similar successful trajectory, securing contracts in early 2022 with Brazil and Mexico totaling $1.5 billion. They plan to launch in local markets in the second half of 2024 and expand into the ASEAN market, estimated to be worth $1.3 billion based on 2021 global IMS data.

Despite its challenges, Nabota generated $106 million in revenue, a remarkable 78.5% increase from 2022, with international sales accounting for 77% of total revenue. Daewoong aims to further expand Nabota's global market share, targeting key markets like China, Australia, Germany, and Austria.

Daewoong Pharmaceuticals has maintained a robust research and development (R&D) investment ratio and amount compared to total revenue. In 2022, R&D investment reached 17.34% at $150 million. In 2021, it was 16.67% at $131 million, and in 2020, it reached 15.30% at $107 million. This investment translated into financial success, with the company achieving $1.2 billion in revenue in 2021.

Known for its resilience, Daewoong Pharmaceuticals effortlessly rebounds from setbacks, akin to applying its own "EGF Healing Cream." Even amid challenges like Botox strain disputes, the organization remains unwavering, demonstrating exceptional strength in the industry.

With key figures like Jae-Chun Yoon, CEO of Daewoong Corporation, Seng-Ho Jeon, and Chang-Jae Lee, the CEOs of Daewoong Pharmaceuticals, collectively pursuing ambitious goals, the company is energized to achieve revenue targets of $2.2 to 3 billion. This shared vision is generating enthusiasm both internally and externally.

Daewoong Pharmaceuticals' success story serves as an inspiring example for traditional pharmaceutical companies adapting to the changing industry landscape. Companies like Yuhan Pharmaceuticals, Hanmi Pharmaceuticals, Dong-A ST, Boryung, and Huons are evolving and developing unique growth strategies to stay competitive.