Bukwang Pharmaceutical announced on the 22nd that its consolidated operating profit for the second quarter of this year was 2.066 billion won, marking a return to profitability. During the same period, sales rose 15.4% compared to the same period last year, reaching 42.579 billion won.
Net profit for the period also returned to the black at 6.4 billion won after 3 years and 9 months. The company cited increased sales of its major product lines, diabetes-related neuropathy treatments 'Dexide' and 'Chioctaside,' as the background for the performance growth. Sales of the two products rose 93% compared to the same period last year. The antipsychotic drug 'Latuda' also exceeded monthly sales of 1 billion won as of May.
Lee Jae-young, CEO of Bukwang Pharmaceutical, noted at an online earnings presentation that the central nervous system (CNS) institutional sector achieved a growth rate of 47%, significantly surpassing that of the competitive market. He added that not only the main product lines but also the next-generation key products have demonstrated growth momentum in the market.
Lee added, "Clinical trial phase 1b of the Parkinson's morning akinesia treatment 'CP-012' from our subsidiary Contella Pharma is being conducted in the UK," and mentioned, "We should be able to confirm the major results (top line) around September."