Chong Kun Dang Reports 19% Decline in 2023 Operating Profit—'Higher SG&A and R&D Expenses Drive Negative Base Effect'
Chong Kun Dang, a major South Korean pharmaceutical firm, saw its 2023 operating profit fall 19% as rising SG&A and R&D costs, along with a negative base effect, offset revenue growth.
Chong Kun Dang CEO Kim Young-joo warned that further drug price cuts could force South Korea's pharmaceutical industry to abandon domestic manufacturing, citing rising costs and declining profitability, while urging policy reforms to protect innovation and R&D investment.
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Chong Kun Dang CEO Kim Young-joo Warns Drug Price Cuts Could Force Abandonment of Domestic Manufacturing
Chong Kun Dang CEO Kim Young-joo warned that further drug price cuts could force South Korea's pharmaceutical industry to abandon domestic manufacturing, citing rising costs and declining profitability, while urging policy reforms to protect innovation and R&D investment.
Jung Geun Dang's Third-Generation Heir Lee Ju-won Promoted to Executive Director—Is a Leadership Transition Centered on the Eldest Son Underway?
Chong Kun Dang Group signals a generational shift as founder’s grandson Lee Ju-won is rapidly promoted, with ownership changes and succession planning underway.
Chong Kun Dang Reports Q3 Operating Profit of 20.5 Billion Won, Down 18.7% on Increased R&D Investment (Comprehensive)
Chong Kun Dang’s Q3 operating profit fell 18.7% to 20.5 billion won as increased R&D investment weighed on earnings, despite a 4.6% rise in revenue.
Chong Kun Dang Reports Q3 Operating Profit of 20.5 Billion Won, Down 18.7% Year-on-Year (Update)
Chong Kun Dang Pharmaceutical posted a 19% drop in Q3 operating profit despite higher sales, as drug price cuts and increased R&D spending weighed on margins.
Chong Kun Dang Reports Q3 Operating Profit of 20.5 Billion Won, Down 18.7% Year-on-Year
Chong Kun Dang's third-quarter operating profit fell 18.7% year-on-year to 20.5 billion won, signaling ongoing margin pressures in South Korea's pharmaceutical sector.
Chong Kun Dang Co. has launched Archela Inc., a new drug development subsidiary focused on three innovative pipelines—CETP inhibitor, GLP-1 agonist, and HDAC6 inhibitor—aiming to drive future growth and global expansion.
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Chong Kun Dang Establishes New Drug Development Subsidiary 'Archela'—Focus on Three Key Pipelines
Chong Kun Dang Co. has launched Archela Inc., a new drug development subsidiary focused on three innovative pipelines—CETP inhibitor, GLP-1 agonist, and HDAC6 inhibitor—aiming to drive future growth and global expansion.
Chong Kun Dang has become the first in South Korea’s pharmaceutical industry to launch an AI-based intelligent control system, aiming to boost efficiency and global competitiveness through autonomous factory innovation.
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Chong Kun Dang Becomes First in South Korea’s Pharmaceutical Industry to Establish AI-Based Intelligent Control System
Chong Kun Dang has become the first in South Korea’s pharmaceutical industry to launch an AI-based intelligent control system, aiming to boost efficiency and global competitiveness through autonomous factory innovation.
Chong Kun Dang and Novo Nordisk Korea have signed a co-promotion agreement for Wegovy, an obesity drug that led South Korea’s prescription sales in Q2, aiming to expand the domestic obesity treatment market.
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Chong Kun Dang Signs Co-Promotion Deal with Novo Nordisk Korea for Obesity Drug Wegovy
Chong Kun Dang and Novo Nordisk Korea have signed a co-promotion agreement for Wegovy, an obesity drug that led South Korea’s prescription sales in Q2, aiming to expand the domestic obesity treatment market.
Chong Kun Dang Reports Q2 Operating Profit of 22.1 Billion Won, Down 21.9%—'R&D Expenses Rise'
Chong Kun Dang Pharmaceutical saw Q2 operating profit fall 21.9% to 22.1 billion won as higher R&D costs offset revenue gains from milestone payments.
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