Bukwang Pharm reports 17.8% revenue growth in Q3

Bukwang Pharm reported a significant increase in revenue for the first three quarters of the year, reaching 162.7 billion KRW, a 17.8% increase compared to the same period last year. While third-quarter revenue rose to 58 billion KRW (up 21.3%), cumulative operating profit for the first nine months fell by 22.2% to 4.7 billion KRW due to increased research and development (R&D) expenditures.

Key drivers of growth include the central nervous system (CNS) product category, which grew by 20%. Specifically, the schizophrenia and bipolar disorder treatment Latuda surpassed 20 billion KRW in cumulative sales as of July. The company is currently conducting Phase 3 clinical trials in South Korea to expand Latuda's indications to include major depressive disorder (MDD).

On the international front, Bukwang's subsidiary, Contera Pharma, received FDA approval for a Phase 2 clinical trial of CP-012, a candidate for treating Parkinson's disease akinesia. The trial is expected to involve 80 patients across 25 institutions in the US and Europe, with primary results anticipated in early 2028. Additionally, Contera Pharma has completed the separation of a new entity in Denmark dedicated to RNA therapeutics development.