Bukwang Pharmaceutical announced on the 6th that its consolidated operating profit last year recorded 1.6 billion KRW, marking a return to profitability after three years.
Last year's sales reached 160.1 billion KRW, a 27.2% increase compared to the same period the previous year. The amount invested in research and development (R&D) last year was 23.7 billion KRW, accounting for 14.8% of total sales.
On a separate basis, sales recorded 157.6 billion KRW, a 25.9% increase from 2023. Operating profit turned positive at 17 billion KRW. Bukwang Pharmaceutical stated that the diabetic neuropathy treatments 'Dexid' (active ingredient: alpha-lipoic acid tromethamine) and 'Chioktacid' (active ingredient: thioctic acid) drove the performance growth. Sales of central nervous system (CNS) strategic products increased by 42% compared to the previous year, and CNS specialty pharmaceuticals (ETC) also contributed to the return to profitability.
Lee Jae-young, CEO of Bukwang Pharmaceutical, said, "Our strategy to secure new growth engines involves the launch of improved new drugs and first generics, as well as securing original new drugs through focused partnering activities. After the second half of this year, when internal growth and structural improvements stabilize, we plan to pursue new drug introductions and entry into new businesses."
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