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Wegovy weight-loss medication (Photo provided by manufacturer) |
[Alpha Biz= Paul Lee] Chong Kun Dang Pharmaceutical reported record-high revenue last year, driven by co-marketing of blockbuster drugs including Wegovy, though profitability declined due to rising costs and base effects from a prior-year tax refund.
The company said on February 2 that consolidated revenue for last year rose 6% year on year to KRW 1.6924 trillion, marking an all-time high. Operating profit fell 19% to KRW 80.5 billion, while net profit declined 30% to KRW 77.8 billion.
Revenue growth was supported by expanded co-marketing of global blockbuster drugs. Chong Kun Dang currently co-markets Amgen’s osteoporosis treatment Prolia, MSD’s cholesterol drug Atozet and diabetes therapy Januvia, as well as Celltrion’s liver disease treatment Godex.
In addition, Pexclu, a gastroesophageal reflux disease treatment from Daewoong Pharmaceutical that entered co-marketing in 2024, benefited from expanded reimbursement coverage for acute and chronic gastritis starting in April last year, broadening its prescription base.
A new growth engine emerged with the launch of Wegovy, Novo Nordisk’s obesity treatment, which Chong Kun Dang began selling in October last year. According to data from IQVIA, Wegovy sales climbed sharply, reaching KRW 60.3 billion in the fourth quarter of 2024, KRW 79.4 billion in the first quarter of 2025, KRW 133.8 billion in the second quarter, and KRW 142.0 billion in the third quarter.
Based on this trajectory, fourth-quarter 2025 Wegovy sales are estimated at KRW 150–180 billion, with surging demand in the obesity treatment market expected to account for a significant portion of Chong Kun Dang’s revenue growth.
Despite higher sales, profits declined from a year earlier. The company attributed the drop to increased selling, general and administrative expenses and research and development costs, as well as the disappearance of a one-off corporate tax refund booked in the previous fiscal year, which created a negative base effect on net income.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
