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DAEWOONG Pharmaceutical has been upgraded to A+ in the evaluation of product quality, growth potential and financial structure
Day : 2008-02-11

DAEWOONG Pharmaceutical has been upgraded to A+ in the evaluation of product quality, growth potential and financial structure

Credit rating upgraded to A+ and credit outlook expected to be stable


Daewoong pharmaceutical (CEO: Jong-wook Lee) announced Friday Korea Ratings Corporation and Korea Investors Service, the leading domestic credit rating agencies, have recently upgraded credit rating for Daewoong Pharmaceutical from A to A+.

With this, 600mg of UDCA can be administered to adults per day for the improvement of liver functions and up to 900mg is allowed in Japan.   

The two credit rating agencies presented their evaluation opinions that they adjusted the credit rating of the Daewoong Pharmaceutical upwardly from A to A+ and raised the credit outlook to stable in consideration of ▶ company’s stable number one position in prescription medicine market, ▶ outstanding profitability based on superior product quality, ▶ established financial structure, and ▶ mid- to long-term growth potential pursuant to the reinforced new product pipeline.

Daewoong pharmaceutical holding top spot in market share for domestic prescription medicine stated the major factor which has helped the company boost the credit rating were competitiveness of prescription medicines and non-prescription medicines such as ‘Ursa’ which improves the liver function, ‘Coenzyme Q10 (CoQ10)’, an antioxidant, ‘Gasmotin’, a treatment for functional dyspepsia, ‘Olmetec’, the next- generation medication for hypertension, and ‘Diabex’, a medication for diabetes. It is also said that prominent sales performance, adequate cash flow and reinforced quality product line including ‘NVU’ a medicine for obesity and ‘Daewoong CoQ10 VQ’, a functional food for health has contributed to occupying the foremost position in the market.

“We aim to be a global health care company by achieving a competitive edge in the Southeast Asian market, carrying out a strategic R&D investment and preparing high-quality product portfolio for an aging society”, said Jae-hong Park, the general manager of the Finance Dept. of Daewoong Pharmaceutical. ;

Meanwhile, a company’s credit rating metrics is used as a key indicator to gauge the status of a company and the review standards for loan and investment in the financial sector. Currently, Daewoong Pharmaceutical and Yuhan Corporation are the only two companies which achieved the credit rating of A+ out of all the companies in pharmaceutical sector.

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