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Office building for Yuhan. (Photo = Yuhan Corporation) |
[Alpha Biz= Reporter Kim Sangjin] Yuhan Corporation announced on the 30th that its operating profit for the first half of the year fell to 19.12 billion won, a decrease of 61.7% compared to the previous year. This significant drop is attributed to increased research and development (R&D) expenses, including the acquisition of new cancer drug candidates.
The company reported a 3.6% increase in sales, amounting to 972.96 billion won. Net income rose by 38.3% to 42.72 billion won, thanks to dividend income received from affiliated companies such as Yuhan-Kimberly in the first quarter.
Yuhan Corporation is currently awaiting the U.S. FDA's approval for its self-developed drug 'Lecrazia' and the combination therapy with Johnson & Johnson's (J&J) 'Liberivant' for non-small cell lung cancer (NSCLC). If approved, the company is set to receive $60 million (approximately 83 billion won) in milestone payments from J&J. The results of the FDA review are expected by the end of next month.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
