On November 11, JEIL PHARMACEUTICAL announced that its subsidiary Onconic Therapeutics recorded an operating profit of 2.7 billion won in the first half of this year, achieving a first-half surplus.
The company's revenue in the first half reached 18.6 billion won, marking a 363% increase compared to the same period last year. Second-quarter revenue rose 250% year-on-year to 9.4 billion won, with an operating profit of 1.1 billion won, also reflecting a surplus.
The company noted, "We achieved 75% of the revenue estimate of 24.9 billion won that we adjusted upward last April in the first half of this year," adding that "the sharp increase in sales of the gastroesophageal reflux disease treatment drug 'Ja Q Bo' and continued revenue from overseas market milestones contributed to this result."
The company is also engaged in research and development of follow-up cancer treatment candidates, including the synthetic lethal dual-targeted anticancer agent Nesupaparib. An Onconic Therapeutics official stated, "If this trend continues, there are great expectations for achieving 100 billion won in prescriptions next year," and added, "We will also strive to achieve results in obtaining approval for subsequent new drugs."
Meanwhile, Ja Q Bo is a new gastroesophageal reflux disease drug in the P-CAB (potassium competitive acid blocker) class, with JEIL PHARMACEUTICAL researching the initial candidate and Onconic Therapeutics conducting the subsequent development. It received approval from the Ministry of Food and Drug Safety in April last year and was launched in October of the same year.