Whan In Pharm Q1: Sales +18%, Profit +78%, Debt-Free, Dividend Sustained, 50B Lawsuit


  • Q1 2026 consolidated revenue 71.18B won (+18.2% YoY), operating profit 9.38B won (+77.7%), net income 7.47B won (+45.8%).
  • Debt-free: debt ratio 13.6%, cash & equivalents 56.28B won (separate), very stable financial structure.
  • Reaffirmed 300 won per share year-end cash dividend; remaining treasury shares (116,120 shares) to be used for employee incentives over 3 years, no new buyback or cancellation.
  • Contingent liability: 50B won lawsuit against National Health Insurance Service over contract invalidity (choline alfoscerate) pending at appellate court.
  • R&D expense 4.34B won (6.1% of sales); Alzheimer's improved new drug WIL-1901 in GMP production, depression improved new drug WIP-2401 under approval application.
  • Subsidiary AsYou (distribution) posted net loss of 1.01B won in Q1; equity-method loss from Bifido of 0.44B won.
  • Change of largest shareholder in Oct 2025 via gift from Lee Gwang-sik to Lee Won-beom (13.27%).

KOSPI Filing Information


  • Filing: Quarterly Report (2026.03)
  • Company: Whanin Pharm (016580)
  • Submission: Whanin Pharm Co., Ltd.
  • Receipt: 05-13-2026