Korea Arlico Pharm알리코제약

Korea Arlico Pharm swung to a trailing loss in H1 2026 and its shares have fallen about 43% over the past year.

Korea Arlico Pharm is a Korean drugmaker selling prescription medicines at home, contract manufacturing for others, and exporting products. On a trailing twelve-month basis to H1 2026 it reported revenue of about ₩196B but an operating loss of about ₩8.0B, after a small profit in 2025. The company has ₩18.5B in cash against ₩6.3B in borrowings, and its shares closed at ₩2,185 on 19 October 2026.

What stands out

• Revenue has grown from about ₩140B in 2021 to about ₩201B in 2025, but operating profit has been volatile, with a loss in 2024 and a thin profit in 2025.
• Trailing operating margin is -4.1% and net margin is -1.5%, so the business is currently loss-making on the data provided.
• Free cash flow on a trailing basis is about ₩15.6B, which is positive even though accounting profit is negative.
• The shares trade at about 0.4 times book value, with a 3.4% dividend yield, while the P/E is not meaningful because earnings are negative.
• Filings show a CEO change, an extraordinary shareholders' meeting, independent director changes and a conversion price adjustment in 2026, but no news headlines were included in the data.

What to watch

• The next full-year and quarterly results, to see whether the trailing operating loss narrows or persists.
• The company's liabilities-to-equity ratio of about 125% and its borrowings, given the recent losses.
• Follow-up effects of the CEO change and shareholder meeting outcomes, which the data does not explain in detail.