[Edaily Reporter NA EUN-KYUNG ] DuChemBio Co.,LTD.(176750)Market interest is growing as the company anticipates increased demand for dementia diagnostic tests following the expansion of treatment options for Alzheimer’s disease. Recent stock price gains coupled with rising trading volume are highlighting expectations for further growth. This is because, following a significant increase in sales of amyloid diagnostic tests since the launch of Lecembi, the introduction of Eli Lilly’s “Kisunra” to the domestic market could further boost demand for testing during treatment.

According to the Korea Exchange on the 13th, DuChemBio Co, LTD closed at 7,570 won on the 8th, marking a 26.0% increase over 10 trading days compared to the 21st of last month. On the 29th of last month, the stock rose 12.25%, with approximately 454,000 shares traded—the highest trading volume since July 27. The upward trend continued on the 2nd and 7th of this month, with approximately 146,000 and 179,000 shares traded, respectively.

Diagnostic Sales Growth Accelerates Following Lecembi’s Launch

DuChemBio Co, LTD is the exclusive domestic manufacturer and supplier of “Bizamil” and “NeuraCheck,” which are used in amyloid positron emission tomography (PET) scans. Amyloid PET is used to detect amyloid accumulation in the brain and to identify candidates for anti-amyloid therapy.

Kim Seung-woo, Chief Financial Officer (CFO) and Executive Vice President of DuChemBio Co, LTD, stated, “Sales of the two products, Vizamil and Neuracheck, increased from 5.1 billion won in 2024 to 7.5 billion won last year.” He added, “Last year, when prescriptions for Lecembi began in earnest, we saw sales growth of approximately 46–47%. The launch of Lecembi clearly had a positive impact.”

Lecembi received approval from the Ministry of Food and Drug Safety (MFDS) in May 2024 and was launched in South Korea in November of the same year. In the first half of this year—the third year since its launch—sales of Vizamil and Neuracheck totaled 4.55 billion won, already reaching 61% of last year’s sales in just six months. This represents a 38.2% increase compared to the same period last year.

The domestic market has also expanded. According to data analyzed by DuChemBio Co, LTD based on product-specific production figures from the Ministry of Food and Drug Safety’s “Drug Safety Korea” portal, the production value of radiopharmaceuticals for diagnosing Alzheimer’s dementia rose by approximately 53%, from 8.03 billion won in 2024 to 12.27 billion won last year. Last year, the production value of DuChemBio Co, LTD’s two products totaled 11.81 billion won, representing a 96.3% market share based on production value.

KiSunRa: Will Demand Expand to Include In-Treatment Testing?

KiSunRa is cited as a factor for further growth. Eli Lilly Korea applied for domestic marketing authorization last December, and industry observers predict approval could come as early as this month. If the approval process proceeds smoothly, a domestic launch is expected early next year.

The U.S. prescribing information for Kisunra states that discontinuation of treatment may be considered once amyloid plaques have decreased to minimal levels on an amyloid PET scan. This structure requires not only patient screening prior to treatment but also testing during treatment to determine whether to discontinue the medication. While the domestic testing schedule and application methods will depend on future approval conditions and clinical guidelines, if approved under the same conditions as in the U.S., there could be demand for additional testing to confirm whether treatment should be discontinued.

Executive Director Kim explained, “While doctors sometimes recommend testing during treatment with Lecembi, it is not mandatory,” adding, “In contrast, since Kisunra allows for mid-treatment testing to confirm whether amyloid has been reduced to a certain level before discontinuing treatment, we anticipate an increase in demand for diagnostic agents.”

The pace of growth ultimately depends on the expansion of Kisunra prescriptions. With Lecembi already in use, Lilly Korea must convince healthcare providers; the speed at which Kisunra replaces existing products and the extent to which it taps into new markets will determine how quickly sales of diagnostic tests will increase.

Improving Access to Testing and Increasing Investment in Production Facilities

Although bottlenecks—resulting in delays in treatment and testing—are occurring as patients flock to large hospitals, the company explains that waiting times for tests and patient congestion are gradually easing, leaving room for even steeper growth in diagnostic test sales next year.

Executive Director Kim said, “At its worst, it reportedly took three months just to get an initial consultation, followed by another three months for a PET scan,” adding, “Although waiting times have now been cut roughly in half, bottlenecks still exist at major hospitals in Seoul.” The company views this as the primary reason why its revenue growth rate in the first half of this year fell short of initial expectations.

To address this, DuChemBio Co, LTD is pursuing measures to improve access to testing by expanding its network of partner hospitals. Executive Vice President Kim said, “If patients undergo testing at other hospitals, they can receive treatment more quickly without facing bottlenecks,” adding, “It takes time because medical staff must be prepared so that patients can trust and visit these facilities, but we are continuing our efforts.”

Investments in manufacturing facilities to prepare for increased demand are also underway. Executive Vice President Kim explained, “The investment in the Hanyang University Hospital manufacturing facility is intended to meet the growing domestic demand for radiopharmaceutical diagnostic products, including amyloid PET diagnostic agents.” In the medium to long term, the company plans to secure supply capacity by investing in production facilities within the High-Tech Industrial Zone in Sinjeong-dong, Jeongeup, North Jeolla Province.

The company maintains that, until the Jeongeup plant is completed, it can meet additional demand by increasing the number of production runs at its existing facilities. Executive Director Kim emphasized, “Generally, we run three production cycles during an 8-hour workday, but at manufacturing centers with high demand, we are running up to five cycles,” adding, “By increasing the number of production runs, we can meet additional demand in line with the delivery schedules requested by hospitals.”