Bukwang Pharmaceutical(003000) said on the 21st that it posted consolidation sales of 100 billion won for the first time in the first half of this year. However, operating profit fell as higher exchange rates pushed up costs.
Bukwang Pharmaceutical's first-half consolidation sales came to 104.8 billion won, up 16% from a year earlier. Operating profit was 2.5 billion won, down 50% from the same period a year ago.
The company said sales at subsidiary Bukwang Medica and sales of prescription drugs increased. Outpatient prescriptions (prescriptions filled outside hospitals) for Latuda for schizophrenia and bipolar disorder, Zale-dip for insomnia, and Orfil for epilepsy rose 32% from a year earlier. Outpatient prescriptions for Dexid for diabetic neuropathy and Thioctacid also increased 7% from the same period a year ago.
However, the won-dollar exchange rate rose, increasing cost burdens, and operating profit decreased as outsourced processing expenses increased during the build-out of automated production lines. Initial marketing expenses were also invested in the process of launching new products. A Bukwang Pharmaceutical official said, "We completed forming the board of UNION KOREA PHARM, which we acquired in the first half," and added, "We will generate acquisition synergies and solidly grow our core business."