SK Biopharm announced on the 5th that it achieved its highest-ever quarterly performance in the second quarter this year, with sales of 173.6 billion won and operating profit of 61.9 billion won.
Sales in the second quarter increased by 31.6% compared to the same period last year, while operating profit rose by 137.6% year-on-year. This significantly exceeds prior market expectations.
In particular, the sales of the epilepsy drug Cenobamate (U.S. product name Xcopri) saw a significant increase in the second quarter, driving the strong performance. The company noted, "Thanks to the high growth of our key product Cenobamate and our expense efficiency strategy, our operating profit has expanded significantly," adding, "We have entered a stable growth trajectory based on the continuous growth of our key product."
Notably, Cenobamate's quarterly sales in the United States exceeded $100 million (about 138.4 billion won) for the first time.
Sales of Cenobamate reached 154.1 billion won in the second quarter, marking increases of 15.6% compared to the previous quarter and 46.5% year-on-year. The average monthly number of new patient prescriptions for Cenobamate in the U.S. (NBRx) was around 1,800, reflecting a growth trend following 1,600 in the previous quarter.
The company stated, "As the seasonal off-peak period and temporary sales stagnation factors were resolved, and the effects of marketing strategies such as internal contests began to take hold, we expect that marketing effects such as direct-to-consumer advertising will also begin to materialize in the second half of the year."
Revenue from royalties and sales of semi-finished products, among other revenue, also increased by about 140% from the previous quarter, reaching 22.2 billion won. The company explained that the amount of in-kind investment that occurred during the establishment of a joint venture (Joint Venture) with Eurofarma in June was recognized as revenue in accounting.
SK Biopharm is also seeking to expand its market through the indication expansion and age range extension of Cenobamate. It is expected to secure top-line results from Phase 3 clinical trials for the expansion of indications for generalized tonic-clonic seizures (PGTC) within the year.