Ildong Pharmaceutical(249420) said on the 30th that operating profit on a consolidation basis in the second quarter rose 739.1% from a year earlier to 5 billion won, based on preliminary figures.
Revenue for the same period was 150.9 billion won, up 9.0% from a year earlier, and net income came to 8.1 billion won, swinging to a profit from a loss of 3.9 billion won a year earlier.
Cumulative operating profit for the first half was 14.2 billion won, up 197.0% from a year earlier. Revenue rose 6.7% to 292.9 billion won, and net income also reached 15.5 billion won, turning to a profit from a loss of 3.4 billion won a year earlier.
Ildong Pharmaceutical cited growth in the prescription drug and over-the-counter drug businesses and efforts to improve profitability as reasons for the better results. Starting in the second quarter, urology co-promotion products such as "Viagra," co-marketed with Viatris, were newly reflected in revenue, and in the over-the-counter drug institutional sector, major brands, including the small patch product "Roihi Tsuboko" (coin patch), performed well in the market, it said.
It also said companywide cost-efficiency efforts, including productivity improvements and reductions in cost of sales, led to better profitability. By lowering cost burdens and improving operating efficiency, key profitability indicators such as operating profit and net income improved significantly from a year earlier, it said.