Bukwang Pharmaceutical said Monday that its consolidated operating profit for last year rose 775.2% from 2024 to 14.1 billion won.
Revenue increased 25.4% to 200.7 billion won, topping 200 billion won in annual sales for the first time since the company was founded.
On a conference call, the company said stronger sales of its diabetic neuropathy treatments Dexid and Thioctacid, along with the antipsychotic drug Latuda, drove the improvement. Sales of the Dexid- and Thioctacid-centered product group rose about 40% year over year, while its central nervous system strategy products, including Latuda, grew about 90%.
R&D progress continued as well. Subsidiary Contera Pharma said CP-012, which it is developing as a treatment for morning akinesia in Parkinson’s patients, produced positive topline results in a Phase 1b trial.
Bukwang Pharmaceutical said the sharp rise in consolidated operating profit was also due to an upfront payment tied to its contract with Lundbeck. Contera Pharma previously signed a research and development collaboration with the global drugmaker to jointly study ribonucleic acid (RNA)-based therapies for severe nervous system diseases.
Separately, Bukwang Pharmaceutical was selected on Jan. 5 as the final bidder to acquire Korea Union Pharmaceutical. It is proceeding with the acquisition under the ongoing rehabilitation process, and expects the deal to close in early April after the Fair Trade Commission completes its merger review.
* This article has been translated by AI.
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