SK Biopharm Surpasses 400 Billion KRW in Sales Last Year... Highest Performance Since Inception

Sales of 418.6 Billion KRW, Operating Profit of 95.3 Billion KRW
Senovamate Accelerates Global Expansion
Achieved 78.2 Billion KRW in US Sales Last Year
Focus on Global R&D... Launching Biopharmaceutical Development

[Asia Economy Reporter Lee Gwan-joo] SK Biopharm recorded its highest performance since its establishment by surpassing 400 billion KRW in sales last year.

SK Biopharm announced on the 8th that it achieved sales of 418.6 billion KRW and an operating profit of 95.3 billion KRW last year based on consolidated financial statements.

The company explained that annual sales increased more than 16 times compared to the previous year, reaching the highest level since its founding, thanks to the increase in U.S. sales of the innovative epilepsy drug 'cenobamate,' milestone payments from European approvals, technology exports to China and establishment of a local subsidiary, and technology exports to Canada.

Cenobamate completed entry into the four major global markets?U.S., Europe, Japan, and China?last year. The company is enhancing product competitiveness by implementing region-specific strategies: direct sales in the U.S., partnerships in Europe and Japan, and establishing a local subsidiary in China.

Last year, U.S. sales of cenobamate (U.S. product name Xcopri®) reached 78.2 billion KRW, a sixfold increase compared to the previous year. In particular, sales in the fourth quarter of last year were 27.9 billion KRW, nearly four times higher than the same period the previous year. The number of prescriptions showed a steep upward trend, surpassing the 20-month post-launch figures of competing drugs released over the past decade. Cenobamate aims to more than double its sales this year.

SK Life Science, SK Biopharm’s U.S. subsidiary, is conducting comprehensive marketing based on cenobamate’s greatest advantage?the seizure freedom rate. Collaborating with the non-profit foundation 'CURE Epilepsy,' which funds epilepsy research, the company is leading efforts to improve disease awareness and consistently presenting long-term efficacy and safety data at annual academic conferences such as the American Neurological Association and the American Epilepsy Society.

The number of European countries launching the product is also expected to expand. Partner Angelini Pharma sequentially launched the product (European product name OntozryTM) in Germany, Sweden, Denmark, and the United Kingdom starting in June last year. Future plans include launching in major countries such as France, Italy, Spain, and Switzerland, as well as in European Free Trade Association member countries Iceland, Norway, and Liechtenstein. For the Asian market launch of cenobamate, phase 3 clinical trials are currently underway in China, Japan, and Korea, and the company aims to launch in Canada in 2024 through partner Endo Group.

Along with market expansion, SK Biopharm is focusing on global research and development (R&D) investment. The Lennox-Gastaut syndrome treatment 'Carisbamate' began global phase 3 clinical trials last month. SK Biopharm’s first targeted anticancer drug 'SKL27969' also entered phase 1 clinical trials in the U.S. last month. Additionally, the company recently signed a joint research agreement on miRNA and has embarked on developing biopharmaceuticals.

SK Biopharm plans to continue collaborating with domestic and international companies possessing promising technologies to enhance the productivity and efficiency of innovative drug R&D. Furthermore, it is exploring business expansion into the digital healthcare sector by developing epilepsy detection and prediction devices and considering investments in related companies. An SK Biopharm official stated, "While continuing qualitative growth by maintaining an upward trend in major markets such as the U.S. and Europe, we plan to actively pursue technology exports to various regions including South America to achieve quantitative growth as well."

This content was produced with the assistance of AI translation services.