HanAll Biopharma turned to an operating profit in the first quarter, driven by growth in its pharmaceuticals business.

HanAll Biopharma announced on the 29th that on a consolidated basis it posted sales of KRW 40 billion in the first quarter of 2026, an increase of 11% year-on-year. Operating profit was KRW 800 million, shifting to the black from a loss in the same period a year earlier.

This improvement in performance is seen as the result of a stable growth trajectory in its core pharmaceuticals business lifting profitability, despite increased investment in research and development (R&D). Gross profit rose 11% to KRW 21.3 billion, while improvements in the profit structure offset higher selling, general and administrative expenses.

Sales from the pharmaceuticals business reached KRW 35.5 billion, up 12% from a year earlier. The probiotic drug “Biotop” recorded sales of KRW 7.6 billion, achieving its highest quarterly performance, and the non-absorbable antibiotic “Normix” also grew 10% to KRW 5.3 billion, establishing a stable growth base.

Expansion of the therapeutic portfolio also contributed to the improvement in results. The launch of the new hair loss treatment “Minoxpil” broadened the product lineup, while prescriptions for “Eligard,” a treatment for prostate cancer and precocious puberty, expanded mainly in the precocious puberty indication, sustaining solid growth.

In particular, this turnaround to profit is assessed as significant because it reflects a structural change rather than a one-off improvement. While routine research expenses declined 31%, the expansion of the sales base simultaneously confirmed room for further profitability enhancement.

In the R&D segment, the next-generation FcRn inhibitor “ImeroFluvabt (HL161ANS)” is emerging as a key growth driver. This pipeline is undergoing clinical trials in a total of six autoimmune diseases through partner Immunovant, and patient enrollment for the registration trial in difficult-to-treat rheumatoid arthritis (D2T RA) is progressing rapidly, bringing forward the timing for result disclosure to the second half of 2026.

Another indication, cutaneous lupus erythematosus (CLE), is also scheduled to have major results announced in the second half of 2026, further heightening medium- to long-term growth expectations.

Industry observers note that, as HanAll Biopharma’s growth in existing product sales and the potential revaluation of its pipeline value are coming to the fore simultaneously, the company is shifting from a phase of simple top-line expansion to a growth phase underpinned by profitability.

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