Yuhan Corp. is poised to post its strongest quarterly profit after gaining US regulatory approval for its lung cancer treatment, positioning the Korean pharmaceutical company to potentially break the 2 trillion won sales barrier this year.
The Seoul-based drugmaker’s third-quarter operating profit likely jumped to 31.7 billion won ($23.6 million), compared with 883.25 million won a year earlier, according to FnGuide estimates. Revenue is expected to climb 13.5% to 548.4 billion won.
The surge follows August’s FDA approval of Yuhan’s Leclaza in combination with Johnson & Johnson’s Rybrevant, making it the first Korean-developed cancer drug to enter the US market. The regulatory green light triggered a $60 million milestone payment from J&J in September.
Analysts project Yuhan could capture up to 19% market share in the US lung cancer treatment segment if regulators approve a subcutaneous version of the drug combination. The new formulation would reduce administration time and side effects compared to current intravenous delivery.
The company’s manufacturing arm recently secured a 107.67 billion won contract with Gilead Sciences for HIV drug ingredients, adding another revenue stream. A new production facility in Hwaseong is expected to drive growth in contract manufacturing operations.
