Daewon Pharm Q1 2026 Operating Profit of 4.4B Won Turns Black… R&D Investment Continues
Q1 2026 consolidated sales 158.1B won, operating profit 4.4B won (exceeding full-year 2025 operating profit of 3.5B won in just one quarter), controlling net income 2.4B won, turning to black
Net debt 124.5B won (end of period), debt-to-equity ratio ~120%
Credit rating 'a' (KoDATA, downgraded from 'a+' in previous period)
R&D expenses 13.4B won (9.24% of sales, consolidated)
Multiple lawsuits pending (3 contingent liabilities), history of regulatory sanctions for drug law violations (fines and business suspensions)
Key subsidiaries: SD Biotech Q1 net loss 1B won, Daewon Healthcare capital impairment, Daewon Meditech deepening capital impairment
New drug pipeline DW-4421 (P-CAB) in domestic phase 3 clinical trial