South Korea’s pharmaceutical industry posted moderate sales growth and stronger profitability in the first half of the year, with both top-tier and mid-sized firms reporting notable gains.

A Hit News analysis of financial disclosures from 60 major South Korean drugmakers showed total H1 sales reaching $8.91 billion, up 3.5% from $8.63 billion a year earlier.

The sales rankings among the top 10 companies saw some reshuffling. Yuhan Corporation maintained first place with $770 million in sales, while GC Biopharma advanced to second with $636 million. Chong Kun Dang ranked third at $601 million, marking 10.2% year-on-year growth. Kwangdong Pharmaceutical slipped from second to fourth with $578 million, down 2.7% from last year. Daewoong Pharmaceutical placed fifth with $548 million, followed by Hanmi Pharmaceutical in sixth with $541 million, a 3.8% decline. Also in the top 10 were Boryung with $354 million, DongKook Pharmaceutical with $329 million, and JW Pharmaceutical with $270 million.

Among smaller firms, Bukwang Pharmaceutical posted $65.0 million, up 26.8% year-on-year, while i-Cure recorded $34.0 million, reflecting a 44.6% increase.

Combined operating profit for the surveyed firms rose 15.3% year-on-year to $545 million. Hanmi Pharmaceutical led with $85.9 million, followed by PharmaResearch with $72.4 million and Daewoong Pharmaceutical with $69.4 million. Yuhan Corporation reported $40.4 million, while DongKook Pharmaceutical posted $34.1 million. GC Biopharma ranked ninth with $25.4 million, but recorded the sharpest improvement with a 1,241% year-on-year increase. Yuhan also posted notable gains, with operating profit surging 194%, the highest growth rate among the top 10 in this category.

Despite overall gains, 14 companies remained in the red or turned to operating losses. Eight firms, including Dong-A ST, SamChunDang Pharm, and i-Cure, continued to post operating losses from the previous year. Six others, such as Handok, Jinyang Pharm, and Samil Pharmaceutical, shifted from profit to loss.

Net income performance was weaker. The combined net profit of the surveyed companies in the first half stood at $332 million, down 4.9% year-on-year. Fifteen companies recorded continued or newly incurred net losses, while only eight, including GC Biopharma and Jeil Pharmaceutical, returned to profitability. Notably, GC Biopharma achieved balanced growth in sales, operating profit, and net profit, delivering strong performance across all three metrics among the top 10 by sales.

The analysis was based on consolidated income statements and comprehensive income statements, with some figures supplemented by separate financial disclosures.