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Korea Q1 Roundup: Mixed Earnings Amid M&A, Prescription Sales

Boryung Blasts Into Space

 
• By Jung Won Shin

Large Korean pharma firms’ first-quarter earnings were mostly mixed on a range of diverse factors such as solid prescription sales and impacts from acquisitions, with some even looking to space for new business opportunities.

earnings
LG Chem’s Q1 Life Science Earnings Weighed By AVEO Acquisition • Source: Shutterstock

Major South Korean pharma companies reported mixed earnings in the first quarter ended 31 March, with Hanmi Pharmaceutical Co., Ltd. and Daewoong Pharmaceutical Company Ltd. continuing to perform well, led by prescription drug sales, while LG Chem, Ltd.’s life science results were weighed down by the acquisition of US-based AVEO Pharmaceuticals, Inc.

Perhaps most unusually, Boryung Corp., formerly known as Boryung Pharmaceutical Co., Ltd

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