Alteogen(196170) said on the 7th that, on a consolidation basis for the second quarter of this year, operating profit was 34.18 billion won, turning to the black on a tentative basis. Sales for the same period came to 68.894 billion won, up 270% from a year earlier.
Cumulative first-half results recorded sales of 140.5 billion won, operating profit of 73.5 billion won, and net profit of 101.3 billion won. Compared with the first half of last year, they increased 37%, 21%, and 108%, respectively.
The company said it posted strong first-half results on the back of technology export performance and expanded commercialization by partners.
This performance reflected an upfront payment and milestone (stepwise technology fee) revenue from the technology transfer agreement for the Hybrozyme® platform–based "ALT-B4" signed in the first quarter of this year with Tesaro Inc., a subsidiary of GSK plc, and Biogen in the United States.
In particular, growth was aided by increased sales of "Keytruda Qurex," the subcutaneous (SC) formulation of Merck's immuno-oncology drug "Keytruda," the first commercialized product applying ALT-B4.
Keytruda Qurex posted $463 million (about 662.1 billion won) in sales in the U.S. in the second quarter of this year. That was about a 262% increase from $128 million in the previous quarter. MSD said that since Apr., adoption by medical institutions and switching from the existing intravenous (IV) formulation to the subcutaneous formulation have been expanding rapidly, supported by the application of the U.S. reimbursement code (J-code) and dosing convenience.
Alteogen also expanded the business scope and research outcomes of the Hybrozyme platform.
The company reaffirmed the platform's development experience and technical reliability by disclosing in the second quarter of this year that Sanofi in France was the partner for the first ALT-B4 license agreement signed in 2019.
In May, at "PDA Miniverse 2026," and in Jun., at "World ADC (antibody-drug conjugates)," the company successively presented research results on combining ALT-B4 with drug-delivery devices and on co-administration with ADCs, suggesting the Hybrozyme platform's expandability through improved dosing convenience and enhanced safety.
Results also continued in the biosimilar business. The "Eylea" biosimilar "Aizenpiju" obtained product approvals in Korea and Saudi Arabia in the second quarter, moving into launch preparations. In China, royalty revenue from "Angokta," the "Herceptin" biosimilar sold by a partner, is also expanding.
Alteogen said it secured results in key business areas, including signing new technology export contracts in the first half, expanding sales of commercialized products, broadening platform application areas, and obtaining biosimilar product approvals.
Jeon Tae-yeon, CEO of Alteogen, said, "The first half of 2026 is significant in that we began generating revenue through sales of commercialized products beyond the Hybrozyme platform's technology export performance," adding, "In addition to the three technology export deals this year, we will turn further discussions into results and expand the Hybrozyme platform's application areas to grow into a continuously growing global bio platform corporations."