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Daewoong Pharmaceutical Reports Second Quarter 2023 Financial Results
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September 24, 2025
- Recorded Q2’ 23 consolidated sales of KRW 350 billion and operating profit of KRW 39.5 billion

Seoul, S. Korea, Jul. 27, 2023 – Daewoong Pharmaceutical(KRX: 069620. KS) announced financial results for the second quarter year 2023. Based on consolidated accounting, the company recorded sales of KRW350 billion and operating profit of KRW39.5 billion.

The most remarkable growth is Fexuclue, a novel drug of gastroesophageal reflux disease (GERD) launched in July last year. Fexuclue has entered a growth phase, achieving KRW41 billion in sales within just one year after its launch in the South Korea. Also, Envlo, the first domestic SGLT-2 inhibitor released in May, is driving changes in the market. Nabota, the nation's only one product to have acquired FDA approval, is experiencing significant growth. In June, Evolus, the partner of Daewoong Pharmaceutical, released Nabota (marketed as Nuceiva in Europe) in Italy, following its successful release in the UK, Germany and Austria.

In terms of license agreement, Daewoong Pharmaceutical achieved noteworthy results by signing a large-scale contract worth USD477 million with American biotech investment company Aditum Bio. The agreement was settled to transfer the global development and commercialization rights of the new autoimmunity treatment candidate in April.  

A representative from Daewoong Pharmaceutical stated, "Through the release of novel drugs, the global advancement of Nabota, and technology exports, we have created an 'innovative growth structure' that renews growth every quarter.” We will become a leading healthcare group in the global market with new growth engines, which are Nabota, Fexuclue, and Envlo.”

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