Seoul: LG Chem Ltd., South Korea's leading chemical company, announced that the cumulative domestic sales of its diabetes drug lineup have surpassed 1 trillion won (US$688 million). This milestone marks a significant achievement for the company in the pharmaceutical sector.
According to Yonhap News Agency, LG Chem reported that it sold a cumulative 1.066 trillion won worth of its Zemiglo diabetes lineup, which includes Zemiglo, Zemimet, Zemidapa, and Zemiro, in South Korea over an 11-year period ending December 2024. The company highlighted that it invested 150 billion won in the development of this diabetes drug lineup since 2003, with Zemiglo making its domestic debut in December 2012. Notably, Zemiglo was the first diabetes drug developed by a local company in South Korea.
In the year 2024 alone, the sales of the Zemiglo lineup reached 153 billion won, reflecting a 7.3 percent increase from the previous year's 144.5 billion won, as reported by market research firm Ubist. This growth underscores the continued demand and success of the diabetes drug lineup in the domestic market.
Apart from the domestic success, LG Chem also exports approximately 20 billion won worth of its diabetes drugs annually to countries in Southeast Asia and Latin America, a company spokesperson added, highlighting the global reach of its pharmaceutical products.