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[Alpha Biz=(Chicago) Reporter Kim Jisun] HK Innoen has withdrawn from the vaccine business, which accounted for about 200 billion won in annual sales. This is because the joint vaccine sales contract with MSD Korea will end next year.
Last year, HK Innoen's annual sales were KRW 846.5 billion, down about a quarter of its total sales. Some predict that it may be difficult to achieve a "trillion club" for the time being. However, HK Inoen said that it is set to sign a joint sales contract for products other than vaccines, and that its new drug "K-cap" expects sales growth, saying that its external prescription performance will surpass 150 billion won and its profitability will improve.
According to the pharmaceutical industry on the 27th, six vaccine items of Korea MSD, which HK Innoen has been in charge of distribution and sales, will be divided and handled by Boryeong Biopharma and Kwangdong Pharmaceutical from January 1 next year.
Kwangdong Pharmaceutical will be in charge of selling Gadasil and Gadasil 9, while Boryeong Biopharma will sell the rest except Bacta. The pneumococcal vaccine has already been transferred from HK Innoen to Boryeong Biopharma in January this year.
As a result, HK Innoen will withdraw from the vaccine business that it jumped into after signing a contract with Korea MSD in November 2021, after more than two years. As vaccine sales were no longer available, related sales of about 200 billion won were also lost. It is about 24% higher than last year's sales of KRW 846.5 billion and this year's estimated sales (average forecast of multiple securities firms compiled by FnGuide) of KRW 836.7 billion. Next year's sales have also been hit at a time when cumulative sales in the third quarter of this year fell 4% from the previous year and annual sales are expected to fall from last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
