SK Biopharmaceuticals Posts Record Q1 Operating Profit of 89.8 Billion Won as Xcopri Continues US Growth
US Sales Reach 197.7 Billion Won; Record Number of New Prescriptions
Expanding Investment in RPT and TPD
"Entering a Virtuous Cycle Based on New Drug Cash Flow"
SK Biopharmaceuticals announced on May 7 that it recorded sales of 227.9 billion won and operating profit of 89.8 billion won in the first quarter of this year. Operating profit increased by 94% compared to the previous quarter and by approximately 250% year-on-year. Net profit for the period was tallied at 102.7 billion won.
The company’s performance was driven by the growth of cenobamate (marketed as Xcopri in the US), an epilepsy treatment, in the US market. US sales reached 197.7 billion won, marking a 48.4% increase from the same period last year.
Prescription indicators also expanded. In March, monthly total prescriptions (TRx) neared 47,000, while new-to-brand prescriptions (NBRx) surpassed 2,000 in a month for the first time. The company plans to expand both direct-to-consumer (DTC) advertising and marketing targeting medical professionals in the US, leveraging its direct sales framework.
SK Biopharmaceuticals is also working to broaden cenobamate’s indications. In March, the company submitted a New Drug Application (NDA) to the US Food and Drug Administration (FDA) for a suspension formulation and is working to apply for expanded indications for primary generalized tonic-clonic seizures (PGTC) and pediatric patients within this year.
The company is also expanding its presence in global markets. In China, it began commercialization in March this year through its partner, Ignis Therapeutics, and approval procedures are underway in Japan, with plans to complete them within the year.
SK Biopharmaceuticals plans to expand investment in next-generation pipelines, including radiopharmaceutical therapeutics (RPT) and targeted protein degradation (TPD), using the cash flow generated from cenobamate sales.
Hot Picks Today
At President Lee's Call to "Give Enough to Shock," Whistleblower Rewards Become a Real Lottery
- If They Fail Next Year, Bonus Drops to 97 Million Won... A Closer Look at Samsung Electronics DS Division’s 600M vs 460M vs 160M Performance Bonuses
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- Opening a Bank Account in Korea Is Too Difficult..."Over 150,000 Won in Notarization Fees Just for a Child's Account and Debit Card" [Foreigner K-Finance Status]②
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
A representative from SK Biopharmaceuticals said, "Based on a profit structure centered on new drug sales, we are simultaneously pursuing investment in new pipelines and profit growth."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
