Alteogen Achieves Record Results Last Year: Sales Up 117%, Operating Profit Soars 275%

"Reflecting Revenue from Platform Technology Export Contracts"

Alteogen announced on February 2 that it achieved record-breaking results last year, with sales reaching 202.1 billion won and operating profit at 114.8 billion won, driven by revenue from platform technology export contracts.

Aerial view of Alteogen headquarters and research center. Alteogen

On this day, Alteogen disclosed its preliminary standalone financial results for 2025. Sales increased by 117% compared to the previous year, and operating profit surged by 275%. The operating margin also rose by 24 percentage points, from 33% in the previous year to 57%.

This performance reflects revenue secured from the out-licensing of the Hybrozyme platform technology. It includes the upfront payment from the licensing agreement with AstraZeneca, as well as milestone payments for the U.S. and European approvals of the subcutaneous (SC) formulation "Keytruda Qurex." In addition, royalties from sales of "Angota," a Herceptin biosimilar marketed by Chinese partner Qilu Pharmaceutical, and revenue from the supply of ALT-B4 were also included.

Alteogen expects that the assignment of a "J-code" for Keytruda Qurex, scheduled to take effect in April, will simplify the insurance reimbursement process and expand the number of countries where the product is marketed, thereby increasing the market share of the subcutaneous formulation. The company also stated that its own product, Terugaseju, is still in the early stages of market entry. As products utilizing the Hybrozyme platform reach the commercialization stage, further technology transfer discussions are ongoing. Alteogen announced that, starting with its agreement with Tesaro, a subsidiary of GSK, it is pursuing additional partnership expansions.

Alteogen CI

Alteogen currently sells a total of three products: Terugaseju, MSD's Keytruda Qurex, and Qilu Pharmaceutical's Angota. The company also expects to commercialize "Eyleaxvi," an Eylea biosimilar that received marketing authorization from the European Commission in the second half of last year, within this year. Alteogen has set a goal of increasing the number of commercialized products to more than nine by 2030, thereby establishing a stable revenue structure based on its platform technology.

Tae Yeon Jeon, CEO of Alteogen, stated, "2025 was a meaningful year as our Hybrozyme platform technology entered commercialization through our partner MSD. This year, we expect to see even more tangible results through the recognition of sales milestones." He added, "From a long-term perspective, we will continue to make strategic decisions, including investments in production facilities to stabilize the global supply chain and securing new pipelines through open innovation."