South Korea's five largest pharmaceutical firms posted combined H1 sales of KRW 4.4996 tln and operating profit of KRW 410.6 bln, up 8% and 18% YoY, respectively, the Financial Supervisory Service disclosure system showed. The group comprises Yuhan Corp., Chong Kun Dang Pharmaceutical, Hanmi Pharmaceutical, GC Green Cross and Daewoong Pharmaceutical. Licensing revenue and overseas operations were key drivers of performance divergence. With the government cutting generic drug prices, market parti

South Korea's five largest pharmaceutical firms posted combined H1 sales of KRW 4.4996 tln and operating profit of KRW 410.6 bln, up 8% and 18% YoY, respectively, the Financial Supervisory Service disclosure system showed. The group comprises Yuhan Corp., Chong Kun Dang Pharmaceutical, Hanmi Pharmaceutical, GC Green Cross and Daewoong Pharmaceutical. Licensing revenue and overseas operations were key drivers of performance divergence. With the government cutting generic drug prices, market participants expect high-margin innovative drugs and new drug performance will determine H2 earnings.