Bukwang Pharmaceutical said on the 21st that third-quarter consolidation revenue came to 47.8 billion won, up 12% from a year earlier. Operating profit was 1 billion won, down 69%. A company official said the summer marketing expenses were reflected.
Latuda, a treatment for schizophrenia and bipolar disorder, sold a cumulative 10 million tablets within one year of launch. Latuda was developed by Japan's Sumitomo Pharma and was introduced in Korea by Bukwang Pharmaceutical in Aug. last year. Dexcied and Thioctacid, treatments for diabetic neuropathy, saw sales increase by 8%. The company plans to introduce the insomnia treatment Survexad in Korea in Dec.
Contera Pharma, a subsidiary of Bukwang Pharmaceutical, said CP-012, an akinesia treatment for patients with Parkinson's disease, showed positive phase 1 clinical trial results. Parkinson's disease is a degenerative brain disorder in which dopamine-producing neurons in the brain are damaged, causing the whole body to tremble and making one's gait heavy. Even when they take medication, patients with Parkinson's disease experience akinesia in the morning when the effect wears off, resulting in loss of motor function. Contera Pharma is jointly researching a ribonucleic acid (RNA) platform with global pharmaceutical company Lundbeck.
Bukwang Pharmaceutical decided on quarterly dividends of 50 won per share, totaling a little over 4.9 billion won. The record date for the dividends is Nov. 5. The dividends will be paid on Nov. 20.