Boryung has surpassed last year's annual operating profit in just three quarters this year.
The company announced on October 22 that it achieved consolidated sales of 314.4 billion won and an operating profit of 25.5 billion won for the third quarter. During the same period, it recorded a net loss of 13.2 billion won.
Sales for the quarter increased by 12.3% compared to the same period last year. However, operating profit decreased by 13.4%, and the company shifted to a net loss.
Cumulative sales reached 849.3 billion won, with cumulative operating profit at 69.4 billion won and cumulative net profit at 52.3 billion won, marking increases of 10%, 5.7%, and 21.1%, respectively, compared to the previous year. The operating profit margin stood at 8.2%.
Growth in sales was driven by increased prescriptions for the hypertension treatment Canab family, joint sales of the dyslipidemia treatment Atoget, and revenues from the cancer drug Taxotere.
According to market research firm Ubist, prescriptions for the Canab family in the third quarter rose by 7.1% compared to the same period last year, outpacing the growth rate of the hypertension treatment market at 4.2%.
Canabjet, launched in June, surpassed 1 billion won in monthly prescriptions by September, achieving the fastest record among Canab family products within just four months. As of September, it held a 56% market share in the three-drug combination market.
The oncology sector also showed growth. Taxotere recorded global sales of 21.3 billion won and domestic sales of 6.4 billion won, totaling 27.7 billion won in the third quarter, reflecting the first full three-month sales since its acquisition.
Cumulative sales in the oncology sector for the third quarter reached 221.4 billion won, an increase of approximately 24% compared to the previous year. The cumulative gross profit margin was recorded at 41.4%.
A Boryung official stated, "We expect the profitability of the oncology sector to continue improving through a phased strategy involving production conversion and formulation enhancements."
The company announced on October 22 that it achieved consolidated sales of 314.4 billion won and an operating profit of 25.5 billion won for the third quarter. During the same period, it recorded a net loss of 13.2 billion won.
Sales for the quarter increased by 12.3% compared to the same period last year. However, operating profit decreased by 13.4%, and the company shifted to a net loss.
Cumulative sales reached 849.3 billion won, with cumulative operating profit at 69.4 billion won and cumulative net profit at 52.3 billion won, marking increases of 10%, 5.7%, and 21.1%, respectively, compared to the previous year. The operating profit margin stood at 8.2%.
Growth in sales was driven by increased prescriptions for the hypertension treatment Canab family, joint sales of the dyslipidemia treatment Atoget, and revenues from the cancer drug Taxotere.
According to market research firm Ubist, prescriptions for the Canab family in the third quarter rose by 7.1% compared to the same period last year, outpacing the growth rate of the hypertension treatment market at 4.2%.
Canabjet, launched in June, surpassed 1 billion won in monthly prescriptions by September, achieving the fastest record among Canab family products within just four months. As of September, it held a 56% market share in the three-drug combination market.
The oncology sector also showed growth. Taxotere recorded global sales of 21.3 billion won and domestic sales of 6.4 billion won, totaling 27.7 billion won in the third quarter, reflecting the first full three-month sales since its acquisition.
Cumulative sales in the oncology sector for the third quarter reached 221.4 billion won, an increase of approximately 24% compared to the previous year. The cumulative gross profit margin was recorded at 41.4%.
A Boryung official stated, "We expect the profitability of the oncology sector to continue improving through a phased strategy involving production conversion and formulation enhancements."
* This article has been translated by AI.
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