Daewoong Pharmaceutical’s Credit Rating Rises to A

The secured superior position in the market and a stable financial structure, Daewoong Pharmaceutical will realize its dream of being listed as one of world’s top 50 pharmaceutical companies by 2010.

Last October, Daewoong Pharmaceutical‘s credit rating was raised upward from A- to A0. The two credit rating agencies in Korea raised Daewoong Pharmaceutical‘s credit rating to A considering such factors as Daewoong’s stable first position in the domestic market in prescription drugs, excellent operating income based on good product quality, stable financial structure, and potential for growth along with active marketing of new products.

The stable portfolio between prescription drugs and OTC drugs, good cash flow, and excellent marketing ability also contributed to the upward adjustment of Daewoong’s credit rating. “The upward adjustment of the credit rating is the result of steady increases in competitiveness, successful management after the companies division in 2002, and a more stabilized financial structure,” said Park Jae Hong, the administration and management headquarters-director at Daewoong Pharmaceutical. “Building a road map in preparation for an aging society is progressing smoothly with the expansion of product lines for chronic diseases such as hypertension and diabetes and with the operation of a professional marketing team.” “We will be listed as one of world’s top 50 pharmaceutical companies based on strategic R&D investment and overseas expansion,” he emphasized.