[Alpha Biz= Kim Jisun] SEOUL, Aug. 21 — MyungIn Pharm, best known for its brands Igatan and Makin Q, has submitted a securities registration statement, moving forward with plans for a KOSPI listing.
The company announced on August 21 that it plans to offer 3.4 million shares at an indicative price range of KRW 45,000 to 58,000 per share, targeting between KRW 153 billion and KRW 197 billion in proceeds. Bookbuilding for institutional investors is scheduled for September 9–15, followed by a public subscription on September 18–19. KB Securities is acting as the lead underwriter.
Founded in April 1985, MyungIn Pharm highlighted its strong portfolio in central nervous system (CNS) therapeutics as its key growth driver. The company has secured over 200 CNS treatment products, including 31 exclusive formulations, ranking No. 1 in Korea’s CNS market for two consecutive years. In 2023, the company posted consolidated revenue of KRW 269.4 billion and operating profit of KRW 92.8 billion, maintaining an operating margin above 30% for three straight years.
CNS therapies cover a wide range of conditions, including depression, schizophrenia, dementia, Parkinson’s disease, and ADHD. Demand is rising amid an aging society and growing awareness of mental health, with Korea’s patient population for psychiatric and behavioral disorders expanding at an annual rate of more than 5% over the past decade.
The company cited its product portfolio, exclusive sales rights for off-patent drugs, and strong sales and marketing capabilities as its core strengths. In particular, its strategy of leveraging patent analysis and formulation technologies to secure first-to-market rights has given it a competitive edge in early market entry.
MyungIn Pharm also underscored its integrated manufacturing and supply chain as a differentiator. With a one-stop value chain covering R&D, active pharmaceutical ingredient (API) production, finished drug manufacturing, and sales and distribution, the company has achieved cost efficiencies by operating its own API facilities instead of relying on external procurement.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
