Seoul, Aug 23 (IANS) South Korea’s major pharmaceutical companies spent around 100 billion won ($72.13 million) each in the first half for the research and development (R&D) of new drugs, data showed on Sunday, in an apparent bid to secure future growth engines.
Yuhan Corp., famous for its anti-inflammatory ointment Antiphlamine, said in a regulatory filing that it invested a total of 122.2 billion won in R&D during the January-June period, up 13.8 percent from the same period last year, reports Yonhap news agency.
The amount accounts for 10.5 percent of sales generated during the first half of this year, according to its regulatory filing.
Chong Kun Dang Pharmaceutical Corp., known for its household pain reliever Penzal, injected 113.5 billion won, or 12.3 percent of its first half sales, into new drug development.
The amount is up by 36.6 percent compared to its R&D spending in the first half of 2025, the company’s regulatory filing showed.
Hanmi Pharm Co. also spent 125.5 billion won, or 14.6 percent of its half-year sales, on R&D this year, its regulatory disclosure showed. Hanmi Pharm launched an initiative in 2023 to develop a new pipeline of obesity drugs, according to a company official.
Other mid-sized pharmaceutical companies showed a similar trend, spending around 10 percent of their first half revenue this year on new drug development.
GC Biopharm Co. spent 85.9 billion won in R&D, while Daewoong Pharma invested 115.7 billion won.
Meanwhile, South Korea’s exports of biopharmaceutical products are expected to post the highest level on record in the first quarter this year, government data showed recently.
The product category’s estimated exports for the first six months of the year was US$4.5 billion, up 15.3 percent, according to the Ministry of Food and Drug Safety.
They accounted for 86.5 percent of all pharmaceutical exports of $5.2 billion in the first half.
Biopharmaceutical exports have risen from $4.9 billion in 2023 to $7.6 billion in 2025. Should the trend continue, the ministry expects this year to post the highest amount of exports on record.
—IANS
na/