Seoul Pharma서울제약

Seoul Pharma is back near break-even on a trailing basis, but its shares have fallen sharply over the past year.

Seoul Pharma is a Korean prescription drugmaker with a single pharmaceutical segment, selling antibiotics, cardiovascular and lipid treatments, and orally disintegrating films. On trailing twelve-month figures to H1 2026 it reported revenue of ₩51.1B-scale sales of ₩51.1B, a small operating loss of ₩0.8B and net income of ₩1.7B, with ₩16.8B in cash against ₩13.0B in borrowings. The share price of ₩1,882 is down 40.4% over one year and sits well below its 52-week high of ₩3,310.

What stands out

• Trailing revenue is about ₩51.1B, roughly flat against 2025's ₩52.1B, and 2025 revenue fell 2.7%.
• Operating income is negative on a trailing basis (about -₩0.8B, a -1.5% margin), but net income is positive at ₩1.7B, so non-operating items helped the bottom line.
• 2025 was loss-making at the operating level (-₩1.3B), while 2024 and 2023 were profitable, so profitability has been inconsistent.
• Valuation is low on book and sales measures (P/B 0.5, P/S 0.4) with a trailing P/E of 12.6, and the company pays no dividend.
• Filings show routine governance items in 2026, including a half-year report, an extraordinary shareholders' meeting and a large business group status disclosure. No news headlines were included in the data.

What to watch

• The next quarterly results and whether the operating loss narrows or widens from the trailing -₩0.8B.
• Progress on the US expansion goal, which the profile mentions but the data does not quantify.
• Foreign ownership (2.3%) and the share price trend, which has been weak over one, three and twelve months.