Yuhan (000100.KS) has secured another global active pharmaceutical ingredient supply contract, pushing its order total for this year past 470 billion won ($338 million) on the back of a capacity expansion at Yuhan Chemical, the subsidiary that runs its overseas API business.
Yuhan said in a regulatory filing on the 15th that it had signed an API supply contract with a global pharmaceutical company. The deal is worth $58.4 million, or about 78.6 billion won. The company did not disclose the counterparty or the indication of the drug covered by the agreement.
Yuhan has been winning a string of large API supply contracts from global drugmakers. In September 2024 and in May last year, it signed contracts worth a combined 196.5 billion won to supply APIs for HIV treatments. In August last year, it won API supply contracts worth 84.3 billion won and 85 billion won for treatments for AIDS and hepatitis C, respectively. All of those volumes were for Gilead Sciences.
Including the latest agreement, Yuhan has landed four orders this year. In May, it signed a 56 billion won API supply contract with U.S.-based BridgeBio Pharma for a cardiomyopathy treatment, followed by a 210.2 billion won supply contract with Gilead. Earlier this month, it secured a 131.1 billion won supply contract with a global pharmaceutical company.
Yuhan Chemical handles the company's overseas API business. In April last year, the subsidiary completed an expansion of the HB building at its Hwaseong plant, bringing total production capacity to 995,000 liters. Helped by the order growth that followed the expansion, Yuhan Chemical's revenue rose 36.5% from 2024 to 289.7 billion won last year.
