Bukwang Pharm, 3Q Sales 42.6 Billion KRW... Operating Profit Turns Positive After 7 Quarters

Bukwang Pharmaceutical announced on the 22nd that its Q3 performance this year recorded consolidated financial statement-based sales of 42.597 billion KRW and operating profit of 3.179 billion KRW. This is a significantly improved performance compared to both the previous quarter and the same period last year, notably achieving a positive operating profit turnaround for the first time in seven quarters since Q4 2022.

Headquarters of Bukwang Pharmaceutical in Dongjak-gu, Seoul [Photo by Bukwang Pharmaceutical]

On a separate basis, sales and operating profit have shown growth for four consecutive quarters, with the goal of achieving cumulative operating profit surplus based on consolidated financial statements by the end of this year. Bukwang Pharmaceutical’s cumulative performance up to Q3 this year shows consolidated sales of 113.9 billion KRW and an operating loss of 335 million KRW. With sales up 12.9% compared to last year, there is an expectation that an annual operating profit turnaround will also be achievable.

Bukwang Pharmaceutical also announced that its newly launched antipsychotic drug Latuda, released in August, has been listed at major tertiary hospitals including Seoul National University Hospital. It also reported that the prescription growth rates of its key products, Dexid and Chioktacid product lines, are outperforming the market growth rate.

Lee Jae-young, CEO of Bukwang Pharmaceutical, said, “Through strategic sales activities and operational efficiency improvements, we achieved a positive operating profit turnaround on a consolidated basis in Q3,” adding, “Based on this achievement, we aim to achieve a cumulative operating profit surplus turnaround in Q4.”

This content was produced with the assistance of AI translation services.