Boryung Pharmaceutical

What Boryung Pharmaceutical does

Boryung Corp. (formerly Boryung Pharmaceutical) is a publicly listed Korean pharmaceutical company (KOSPI: 003850) founded in 1957 and headquartered in Seoul, with manufacturing at the EU-GMP-certified Yesan Campus. Its core products are organized around three pillars: a chronic disease portfolio anchored by Kanarb — the first ARB antihypertensive launched in South Korea in March 2011 — plus combination products for hypertension, dyslipidemia, and diabetes; an expanding cytotoxic oncology franchise built through a Licensed Brand Acquisition (LBA) strategy encompassing Gemzar (acquired from Eli Lilly, 2020), Alimta (Lilly, 2023), and Taxotere (Sanofi, EUR 161M, 19 countries, 2025); and essential medicines including penicillin and antibiotics positioned as a national health security business.

Revenue derives from direct pharmaceutical sales in Korea via an established commercial infrastructure and co-promotion arrangements (K-CAB), global sales of acquired original oncology brands, and a newly launched global CDMO business (the first project supplying Alimta to Lotus Pharmaceuticals from the EU-GMP-certified Yesan Campus). Boryung also operates a third strategic pillar — the Humans In Space (HIS) program — built around USD 70 million of strategic investments in Axiom Space (USD 60M, 2022) and Intuitive Machines (USD 10M, 2026), plus the BRAX SPACE joint venture with Axiom Space (December 2023), targeting space-based pharmaceutical R&D infrastructure.

FY2025 consolidated revenue reached KRW 1.0174 trillion with operating profit of KRW 65.1 billion (conservatively reflecting Kanarb patent litigation impact) and operating cash flow of KRW 128 billion (>50% YoY growth). The company's leadership is consolidated under CEO & Chairman Jay Jung Gyun Kim, with ownership aligned through treasury share cancellation (~1.2% of outstanding shares) and a ~60% YoY increase in 2026 dividends.

Name

Boryung Pharmaceutical

Legal name

Boryung Co.,Ltd. ((주)보령)

Website

http://www.boryung.co.kr

Company type

Public

Founded year

1963

Operating status

Operating

Headcount range

251–500 employees

Short description

Boryung Corp. (formerly Boryung Pharmaceutical) is a publicly listed Korean pharmaceutical company that manufactures chronic disease drugs (led by Kanarb), acquired-brand cytotoxic oncology products (Gemzar, Alimta, Taxotere), essential medicines, and global CDMO services, while building space-based pharmaceutical R&D infrastructure via the Humans In Space program.

Ownership category

akta.pro rank

Product category

Prescription Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Drug Substance–Drug Product Integrated CDMO (HLAGABAG)

akta.pro secondary industries

Oncology Specialty Pharmaceuticals (HLAIACAA), Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE)

Keywords

• Pharmaceutical manufacturing
• Oncology drugs
• Antihypertensive medications
• Contract development manufacturing
• Essential medicines

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Pharmaceutical product sales (Korea): Revenue from proprietary pharmaceutical products sold in the Korean market, including Kanarb (hypertension), chronic disease treatments, oncology drugs, antibiotics, and co-promotion products like K-CAB. In 2025, consolidated revenue reached KRW 1.0174 trillion.
2. Global oncology product sales: Revenue from global sales of acquired original cytotoxic oncology brands including Gemzar (acquired 2020), Alimta, and Taxotere (acquired 2025, EUR 161 million deal covering 19 countries). Taxotere is expected to generate KRW 90 billion+ annually starting 2027.
3. CDMO (Contract Development and Manufacturing Organization): Boryung provides manufacturing services to other pharmaceutical companies, including global CDMO projects such as the Alimta supply agreement with Lotus Pharmaceuticals. The company completed EU-GMP-certified production preparations at its Yesan Campus.
4. Essential medicines supply: Revenue from supply of essential medicines including penicillin and cytotoxic oncology drugs to the Korean market and potentially overseas. Boryung positions this as a strategic and national health security business.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Boryung Pharmaceutical manufactures and markets prescription pharmaceutical products, including the proprietary antihypertensive Kanarb (Candesartan), cytotoxic oncology drugs Gemzar (Gemcitabine), Alimta (Pemetrexed), and Taxotere (Docetaxel), as well as government-designated essential medicines such as penicillin. The company also provides contract development and manufacturing organization (CDMO) services for injectable oncology products to global pharmaceutical partners, and operates a consumer healthcare line and a space life science research program.

Product overview

Boryung Corp. (formerly Boryung Pharmaceutical) is a Korean pharmaceutical company offering a portfolio of branded drugs and contract manufacturing services. The core offerings include chronic disease treatments anchored by Kanarb (the first Korean ARB antihypertensive), an expanding oncology portfolio built through LBA acquisitions including Gemzar, Alimta, and Taxotere, and CDMO services leveraging EU-GMP-certified manufacturing capabilities. The company operates three strategic growth pillars: strengthening competitiveness in the Korean pharmaceutical market, becoming a provider of essential medicines (including penicillin and cytotoxic oncology drugs), and developing life science research infrastructure in space through the Humans In Space program.

Differentiator

Problem solved

Functional benefit

Brands

• Humans In Space (HIS): Space life science research and human space habitation initiative comprising technology and infrastructure components for sustained human presence in space.
• Care In Space (CIS)
• Kanarb Family
• BRAX SPACE

Products and services

• Kanarb (Candesartan) Kanarb is Boryung's proprietary angiotensin receptor blocker (Candesartan) for the treatment of hypertension. It is the #1 ARB in the Korean antihypertensive market and is sold to hospitals, clinics, and pharmacies via prescription.
• Gemzar (Gemcitabine) — liquid formulation Gemzar (Gemcitabine) cytorekubin is a cytotoxic oncology injectable used in the treatment of various cancers. Boryung's Lotus subsidiary possesses the only liquid Gemcitabine formulation in Europe and supplies it to global pharmaceutical partners under EU-GMP.
• Alimta (Pemetrexed) — liquid formulation Alimta (Pemetrexed) is a cytotoxic oncology injectable used in the treatment of non-small cell lung cancer and mesothelioma. Boryung's Lotus subsidiary developed the first liquid Pemetrexed formulation in Europe and supplies it to Eli Lilly.
• Taxotere (Docetaxel) — alcohol-free formulation Taxotere (Docetaxel) is a cytotoxic chemotherapy agent used in the treatment of breast, lung, and prostate cancers. Boryung's Lotus subsidiary developed an alcohol-free formulation approved by the European Medicines Agency, addressing tolerability issues associated with standard alcohol-containing Docetaxel formulations.
• K-CAB (Fexuprazan) — co-promotion K-CAB (Fexuprazan) is a potassium-competitive acid blocker used for the treatment of gastroesophageal reflux disease, co-promoted in Korea with Daewoong Pharmaceutical.
• Essential Medicines — Penicillin and antibiotics Boryung is a government-designated manufacturer of essential medicines including penicillin and antibiotics, supplying the Korean market under national health security policy.
• CDMO (Contract Development and Manufacturing Organization) Services — Lotus Lotus is Boryung's CDMO subsidiary providing contract development and manufacturing of cytotoxic oncology injectables under EU-GMP certification for global pharmaceutical partners, including supply to Eli Lilly.

Quantifiable outcome

• Oncology revenue of KRW 250 billion with a five-year CAGR of 23.5% (2025)
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• BRAX Space (Boryung-Axiom Space joint venture)coreStrategic or Co-development Partner · 1 December 2023BRAX Space is a joint venture established in December 2023 between Boryung and Axiom Space. It serves as the domestic conduit for Boryung's Humans In Space platform, sending domestic technology and ideas gathered in Korea to the International Space Station for validation and development. BRAX Space is a key mechanism for Boryung to develop and formalize space life science partnerships and business models.
• NASA (Human Research Program)flagshipStrategic or Co-development PartnerBoryung officially partnered with NASA's Human Research Program in 2024 as part of its 'Humans In Space' initiative. This partnership positions Boryung within NASA's research ecosystem and validates its space life science ambitions.
• German Aerospace Center (DLR)minorStrategic or Co-development PartnerBoryung hosted a winning research team from the German Aerospace Center (DLR) under the Humans In Space initiative, creating an innovative ecosystem that fosters emerging space technologies.
• Lotus PharmaceuticalscoreChannel Partner/ Reseller/ DistributorBoryung began supplying the anticancer drug Alimta to Lotus Pharmaceuticals under a 2024 global CDMO agreement. This marked Boryung's first global CDMO project. The company completed quality verification, regulatory approvals, and EU-GMP-certified production preparations at its Yesan Campus before beginning shipments.
• Korean Medical AssociationcoreStrategic or Co-development PartnerFor 42 years, Boryung has partnered with the Korean Medical Association to honor the spirit of the 'Korean Schweitzer' through the annual Boryung Medical Service Award. This is one of the longest-running healthcare CSR partnerships in Korea.
• Korea Foundation for Science and CreativityminorStrategic or Co-development PartnerBoryung partnered with the Korea Foundation for Science and Creativity to organize the 'HIS Youth' Space Science Competition for elementary, middle, and high school students. The competition helps next-generation students develop perspectives on life science and space exploration.
• SanofiflagshipChannel Partner/ Reseller/ DistributorBoryung acquired the global Taxotere (docetaxel) business from Sanofi in 2025 for EUR 161 million, covering 19 countries. This was Boryung's largest acquisition and first global acquisition. The deal included technology transfer of Sanofi-level manufacturing standards.
• Eli Lilly and CompanyflagshipChannel Partner/ Reseller/ DistributorBoryung acquired original brands Gemzar (2020) and Alimta from Lilly through its LBA (Licensed Brand Acquisition) strategy. Boryung received technology transfer from Lilly, which helped build its world-class manufacturing capabilities.
• Aurelia InstituteminorStrategic or Co-development PartnerBoryung established a partnership with the Aurelia Institute as part of its 2023 expansion of the Humans In Space business, contributing to the ecosystem of partners working on sustained human presence in space.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Celltrion: Korea's largest biopharmaceutical company, focused on biosimilars and biologics manufacturing with significant global commercial reach. Comparable to Boryung's ambitions in biologics/ADC manufacturing and global pharmaceutical supply, though at significantly larger scale.
• Viatris: Global pharmaceutical company with a large oncology generics portfolio including docetaxel and other cytotoxic products that compete with Boryung's Gemzar/Alimta/Taxotere franchise. Comparable in product category and competitive overlap, though at much greater scale.
• Samsung Biologics: World's largest contract biopharmaceutical manufacturer with significant Korean CDMO infrastructure. Comparable to Boryung's CDMO growth pillar and EU-GMP manufacturing capabilities, though focused on biologics rather than small-molecule cytotoxic oncology.

Direct peers

• Hanmi Pharmaceutical: Korean pharmaceutical company with a strong domestic chronic disease franchise and oncology ambitions, plus significant global licensing-out activity. Closely comparable to Boryung in business model (branded Korean pharma + international drug commercialization) and target segments.
• Dong-A Pharmaceutical: Korean pharmaceutical manufacturer with established domestic brands and specialty pharma exposure. Comparable to Boryung as a Korean mid-cap pharma of similar scale competing for chronic disease and specialty market share.
• Yuhan Corporation: One of Korea's largest pharmaceutical manufacturers with a broad branded prescription and OTC portfolio. Highly comparable to Boryung as a Korean pharma company of similar scale pursuing both domestic franchise growth and international partnerships/CDMO expansion.
• Lotus Pharmaceuticals: Boryung's named CDMO partner for global Alimta supply, focused on cytotoxic oncology and specialty generics. Directly comparable as both a peer and a customer, operating in the same cytotoxic oncology manufacturing and supply space.
• GC Pharma (Green Cross): Korean pharmaceutical company with a portfolio spanning vaccines, plasma products, and branded prescription drugs. Comparable to Boryung as a Korean mid-cap pharma with diversified branded pharma revenue and ambitions in biologicals.
• Daewoong Pharmaceutical: Major Korean pharmaceutical manufacturer with branded prescription drugs, biosimilars, and global licensing activity. Comparable to Boryung as a Korean mid-cap pharma with branded generics and chronic disease/oncology exposure.
• Chong Kun Dang (CKD) Pharmaceutical: Korean pharmaceutical company with both branded and generic product portfolios in chronic disease and specialty areas. Comparable to Boryung as a Korea-focused mid-cap pharma manufacturer competing in similar therapeutic categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/boryungpharm
• YouTubeyoutube.com/@Humans_In_Space
• Facebookfacebook.com/boryungpharm
• LinkedInlinkedin.com/company/31282842/admin
• Instagraminstagram.com/humansinspace_official

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boryung Pharmaceutical