Daewoong stock: Subsidiary ends KRW 69.2 billion Abbott deal

Published on 11/10/2026 at 03:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Daewoong stock draws attention after its pharmaceutical subsidiary ended an Abbott supply deal in Southeast Asia. The termination took effect in 2024.

Contract Termination Reaches Investors

Daewoong Pharmaceutical ended a pitavastatin calcium supply agreement with Abbott covering Southeast Asia.
The contract had generated only limited payments before the mutual termination, while the subsidiary cited weak local business and approval issues.

Daewoong, KR7003090008, Illustration mit AI erstellt.

Daewoong Pharmaceutical, a subsidiary of Daewoong Co., ended a supply agreement with Abbott Products Operations AG covering pitavastatin calcium tablets in Southeast Asia. The termination took effect on February 28, 2024, while the disclosure was published on November 2, 2026, according to Heyholder.

Abbott Agreement Ends After Weak Sales

Abbott held exclusive distribution rights for the medicine in Thailand, Vietnam, the Philippines and Myanmar, among other Southeast Asian markets. The original agreement covered the period from November 2, 2016, to November 2, 2026, but both sides ended it by mutual agreement.

The contract was originally valued at KRW 72.8 billion. Sales, upfront payments and milestone payments received before termination totaled KRW 3.6 billion, leaving a termination amount of KRW 69.2 billion and a fulfillment rate of 4.91%. Daewoong Pharmaceutical cited weak local sales and business performance, as well as the inability to maintain domestic product approval because the medicine was no longer produced or sold in South Korea.

What Investors Should Watch Next

The disclosure concerns a subsidiary and relates to a contract whose termination took effect more than two years before publication. For Daewoong Co. investors, the notice highlights execution risk in overseas pharmaceutical distribution and the importance of regulatory approvals in maintaining regional sales channels. The company profile lists Daewoong's pharmaceutical operations alongside income from real estate leasing.

Daewoong's Business And Position

Daewoong Co. operates with subsidiaries in pharmaceutical production and sales and also earns income from real estate leasing. The company was established in 1961 and is headquartered in Seongnam-si, South Korea. Its business classification is healthcare, with a focus on specialty and generic drug manufacturing.