SK Biopharm, 1Q Sales 60.8 Billion KRW... Operating Loss Narrowed to Lowest in Recent Quarters

Performance Improvement Driver 'Senovamate'
12 Consecutive Quarters of Growth Since US Launch

SK Biopharm announced its preliminary operating results for the first quarter of this year on the 11th, reporting sales of 60.8 billion KRW and an operating loss of 22.7 billion KRW. Sales increased by 47.7% compared to the same period last year, and the operating loss decreased by 39% from 37.1 billion KRW in the first quarter of last year. The company stated, "Despite external factors such as exchange rate declines, sales increased compared to the same period last year," and added, "Operating losses also improved by nearly 15 billion KRW compared to the same period last year, reaching the lowest quarterly level."

SK Biopharm's epilepsy treatment 'Cenobamate (U.S. launch name Xcopri)'
[Photo by SK Biopharm]

The main factor behind this performance improvement is the continuous growth of the epilepsy treatment drug 'Cenobamate' (U.S. product name Xcopri). Cenobamate recorded sales of 53.9 billion KRW in the U.S. in the first quarter, achieving 12 consecutive quarters of growth since its entry into the U.S. market in May 2020. It also posted a 70% sales growth compared to the same period last year in the first quarter.

The total prescriptions (TRx) in the U.S. reached 19,910 in March, which is 2.1 times the average prescription count at 35 months for competing new drugs. The first quarter TRx was approximately 55,000, about 10% higher than the previous quarter.

Based on the accelerated growth of Cenobamate, SK Biopharm aims to turn profitable on a quarterly basis by the fourth quarter of this year. To achieve this, the company is implementing more aggressive strategies, such as improving the incentive system for sales representatives in the U.S. and expanding marketing targets from epilepsy specialists to general neurologists. At the American Academy of Neurology (AAN) conference held last month, SK Biopharm actively engaged in academic activities by presenting 10 research results related to Cenobamate, the highest number among participating companies.

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