DuChemBio improved its first-quarter profitability on the back of expanded sales of Alzheimer's disease diagnostics.
DuChemBio said on the 14th that on a consolidation basis for the first quarter this year, it posted revenue of 9.7 billion won and operating profit of 1.25 billion won. Compared with the first quarter last year, revenue rose 14.7% and operating profit increased 87.5%.
The improved results were led by the Alzheimer's disease diagnostic radiopharmaceuticals "Vizamyl" and "Neuraceq." Both products saw revenue increase 32.3% from a year earlier. Radiopharmaceuticals work by using radiation emitted by radioactive isotopes to diagnose targets or destroy abnormal cells for treatment.
With prescriptions of Alzheimer's disease treatments gaining traction in Korea recently, observers say diagnostic demand is also expanding. In fact, "Leqembi (ingredient name lecanemab)" by Eisai and Biogen is being prescribed domestically. "Kisunla (ingredient name donanemab)" by Eli Lilly and Company is under review for domestic marketing approval.
Leqembi and Kisunla are Alzheimer's treatments that target amyloid beta (Aβ) protein accumulated in the brain. To receive a prescription for these treatments, patients must confirm amyloid beta accumulation through positron emission tomography–computed tomography (PET-CT) or cerebrospinal fluid (CSF) testing. The main amyloid PET diagnostics used in the global market are Neuraceq and Vizamyl, which are produced and sold domestically by DuChemBio.
DuChemBio said its market share in Korea's amyloid PET diagnostic market exceeds 94%. The industry is watching the potential for increased amyloid PET diagnostic demand alongside discussions on overhauling early diagnosis systems.
The company's prostate cancer diagnostic "Prostaseq" also began to be reflected in results this year. According to the company, Prostaseq is used as a diagnostic to enable prescriptions of Novartis' radiopharmaceutical therapy "Pluvicto."
DuChemBio is also pursuing entry into the development of therapeutic radiopharmaceuticals and the contract development and manufacturing organization (CDMO) business, based on its diagnostics business. The company plans to finalize site selection within the year and then review, in stages, the establishment of a dedicated research institute and production facilities.
Chief Executive Kim Sang-woo of DuChemBio said, "The foundation of our diagnostics business is expanding," adding, "We will continue preparing to enter the CDMO business in response to changes in the therapeutic radiopharmaceuticals market."