Yuhan Corporation has achieved its highest quarterly performance to date in the second quarter of this year, driven by licensing revenue from the non-small cell lung cancer treatment Lecraza (ingredient name: lazertinib) and growth in its overseas business.
On July 30, Yuhan announced that its operating profit for the second quarter reached 61.4 billion won, a 34.7% increase compared to the same period last year. Revenue rose to 614 billion won, up 10.4%, while net profit increased by 22.1% to 47.6 billion won.
Licensing revenue surged to 58.9 billion won, marking a 130.6% increase. This growth is attributed to Yuhan receiving a $30 million milestone payment after Lecraza was commercialized in Europe following its technology transfer to Janssen Biotech in May.
Yuhan has also expanded its research and development investments alongside its performance growth. R&D expenses for the second quarter amounted to 66.1 billion won, a 21.4% increase from the same period last year, representing approximately 10.8% of total revenue.
A Yuhan representative stated, "We recorded the highest quarterly revenue and operating profit through solid growth in our pharmaceutical and overseas businesses, as well as milestone and royalty payments from Lecraza in Europe." The representative added, "The increase in royalties from the global sales expansion of Lecraza, the growth in prescriptions for key strategic products, the continued growth of our overseas business, and the expansion of our healthcare business will further strengthen our long-term growth foundation."
Lecraza is a third-generation EGFR-targeted cancer drug developed by Yuhan Corporation and has been licensed to Janssen, a subsidiary of Johnson & Johnson. It is considered a key product that boosts overseas sales as its prescription range expands in the global market.
* This article has been translated by AI.
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