South Korea’s major pharmaceutical and biotech companies achieved across-the-board top-line growth in the second quarter of this year, propelled by technology export milestones and expanded sales of new drugs and biosimilars. Samsung Biologics and Celltrion both posted record quarterly revenue, while Yuhan Corp. and Hanmi Pharmaceutical saw tech-export income lift their results. Daewoong Pharmaceutical also logged double-digit revenue growth on the strength of its in-house new drug and botulinum toxin franchise.

According to industry data released on the 15th, Samsung Biologics and Celltrion each set new quarterly revenue records in Q2.

Samsung Biologics reported consolidated Q2 operating profit of 586.4 billion won (approximately $415 million), up 22.9% year over year, on revenue of 1.3209 trillion won (approximately $936 million), a 30.2% increase. The company attributed the performance to full-capacity operations across its Plants 1 through 4 and favorable currency conditions.

Industry observers expect Samsung Biologics’ revenue growth to continue as output from its Rockville, Maryland facility is fully reflected in results. The company’s acquisition of the Polypeptide Group last month, signaling its entry into the peptide drug market, is also seen as securing a mid- to long-term growth engine.

Celltrion said Q2 operating profit rose 86.3% to 451.8 billion won (approximately $320 million), with revenue up 45% year over year to 1.3937 trillion won (approximately $987 million). The strong quarter stemmed from sustained market positions for flagship products such as Remsima, Truxima, and Herzuma, alongside expanded sales of high-margin new offerings.

Celltrion has launched 11 biosimilars globally through last year and plans to build an 18-product portfolio by 2030. On the novel drug front, the company continues to expand into antibody-drug conjugates (ADCs), multispecific antibodies, and obesity treatments.

Yuhan, Hanmi Reap Tech-Export Gains

Several pharma companies delivered standout Q2 results. Yuhan Corp. previously disclosed that standalone Q2 operating profit rose 34.7% year over year to 61.4 billion won (approximately $43.5 million), with revenue up 10.4% to 614 billion won (approximately $435 million). License revenue within that total surged 130.6% to 58.9 billion won (approximately $41.7 million).

Yuhan announced in May that it would receive a $30 million milestone payment from Janssen Biotech following the European commercialization of Lazertinib (marketed in South Korea as Leclaza), a non-small cell lung cancer treatment licensed out to the Johnson & Johnson unit.

Hanmi Pharmaceutical also benefited from tech-export achievements, posting consolidated Q2 operating profit of 131.1 billion won (approximately $93 million), up 116.9% from a year earlier. Revenue rose 29.3% to 467.2 billion won (approximately $331 million) over the same period.

“Revenue increased on solid growth of our core products and expanded co-promotion with global pharmaceutical companies, while recognition of the upfront payment received from Eli Lilly drove this quarter’s strong results,” a Hanmi spokesperson said.

Hanmi signed a license agreement with Lilly in June for the development, manufacturing, and commercialization of Sonpeglutide, a biologic drug candidate. The deal includes a $75 million upfront payment, with up to $1.185 billion in additional payments tied to clinical development, regulatory approval, and commercialization milestones. Royalties after product launch are separate.

Daewoong Posts Double-Digit Growth; Chong Kun Dang Profit Slips

Daewoong Pharmaceutical’s standalone Q2 operating profit rose 23.4% to 77.1 billion won (approximately $54.6 million), with revenue up 10.0% to 400.2 billion won (approximately $283 million). Growth was driven by increased exports of the botulinum toxin Nabota and higher sales of Fexuclue, its new drug for gastroesophageal reflux disease.

Chong Kun Dang’s standalone Q2 revenue rose 10.7% to 475.4 billion won (approximately $337 million), but operating profit fell 10.1% to 19.9 billion won (approximately $14.1 million).

Q2 results for major pharmaceutical and biotech companies are as follows:

CompanyOperating Profit (₩100M)OP GrowthRevenue (₩100M)Revenue GrowthSamsung Biologics5,864+22.9%13,209+30.2%Celltrion4,518+86.3%13,937+45.0%Yuhan Corp.614+34.7%6,140+10.4%Hanmi Pharmaceutical1,311+116.9%4,672+29.3%Daewoong Pharmaceutical771+23.4%4,002+10.0%Chong Kun Dang199-10.1%4,754+10.7%

Note: Samsung Biologics and Hanmi Pharmaceutical figures are on a consolidated basis; Yuhan Corp., Daewoong Pharmaceutical, and Chong Kun Dang are on a standalone basis.