Dong-A ST said Tuesday that its operating profit slipped 0.8 percent in 2024 to 32.5 billion won ($22.4 million) compared to a year earlier, even as revenue climbed 5.9 percent to 640.7 billion won. Net profit fell 6.3 percent to 16.2 billion won, weighed down by rising R&D and marketing expenses.

The company credited its revenue growth to an expansion in prescription drug and overseas businesses, though higher spending on new product launches and pipeline development dampened profitability. 

Investments targeted Tanamin (EGb761), a treatment for peripheral circulation, and Jaqbo (zestaprazan citrate), a potassium-competitive acid blocker (P-CAB) developed by Onconic Therapeutics and promoted through a partnership with Jeil Pharmaceutical.

Prescription drug sales rose 4.8 percent to 443.5 billion won, driven by a 20.5 percent surge in sales of Growtropin, Korea’s first locally developed growth hormone therapy, which brought in 118.9 billion won.

Meanwhile, overseas sales jumped 8.3 percent to 151.1 billion won, fueled by higher demand for Bacchus energy drink and sales from IMULDOSA (ustekinumab), a Stelara biosimilar, which contributed 7.5 billion won.

Dong-A ST is ramping up its R&D efforts, with IMULDOSA  set for a U.S. launch this May. The company’s U.S. subsidiary, MetaVia, is advancing a phase 2 trial for DA-1241, a potential treatment for metabolic dysfunction-associated steatohepatitis (MASA) and type 2 diabetes.

The company is also progressing with the global phase 1 trial of obesity drug DA-1726 and domestic phase 1 trials for Alzheimer’s treatment DA-7503 and immuno-oncology drug DA-4505.