Boryung second-quarter net income rises 171.4 percent

Boryung said second-quarter net income climbed 171.4 percent to 24.1 billion won from 8.86 billion won a year earlier, even as operating profit declined after Taxotere sales were reflected in its results from June.

Revenue rose 11.2 percent to 280 billion won from 252 billion won a year earlier, while operating profit fell 6.2 percent to 23.8 billion won from 25.4 billion won.

Boryung, which manufactures and sells the Canarb family of treatments for hypertension and dyslipidemia as well as anticancer drugs, reported first-quarter Canarb-family sales of 33.3 billion won, or 13.0 percent of total revenue.

Boryung said Taxotere is a cytotoxic anticancer drug it acquired from Sanofi. The business rights cover 19 countries and regions, including Korea, China, Germany, Spain, Latin America and the Middle East.

Kim Seong-jin, Boryung's chief strategy officer, said the Taxotere acquisition identified clear opportunities on the demand and supply sides and made Boryung directly responsible for the authorization, quality, production and distribution of essential anticancer medicines globally. "With the completion of the acquisition, Boryung has joined the global supply chain for essential anticancer drugs and will continue to expand its position as a major global supplier using Taxotere as a foothold," he said.