Daewon Pharmaceutical Reports H1 Operating Profit of 4.4 Billion Won, Down 45.3% Due to Increased R&D and Marketing Expenses
Daewon Pharmaceutical announced on August 7 that its consolidated operating profit for the first half of this year was 4.4 billion won, a decrease of 45.3% compared to the same period last year. During the same period, sales increased by 3.1% to 310.9 billion won, and net profit for the period was reported at 5.7 billion won.
The company explained that profitability declined due to an increase in selling and administrative expenses, which was caused by research and development (R&D) costs for new drug development, as well as higher marketing expenses for the launch of new health functional foods.
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On the other hand, sales in the first half continued to grow, driven by increased prescriptions for products treating chronic diseases and strong sales of health functional foods.
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