SK Bioscience reported sales of 1.34 trillion won and operating profit of 260 billion won in the second quarter, the company announced on the 8th. Sales increased by 74% year-on-year, while operating profit also rose by 153%, marking a successful turnaround into profitability.
Senovamate achieved sales of 105.2 billion won in the U.S. in the second quarter, entering the 100 billion won sales range for the first time. SK Bioscience also expects to exceed its quarterly other sales target of 28.8 billion won with an overall positive performance and anticipates surpassing the sales projection of 70 billion won. An SK Bioscience official stated, “With Senovamate U.S. sales exceeding the selling expenses of 99.2 billion won, we have entered a phase where substantial profit growth is possible beyond fixed costs.”
To accelerate the growth pace of Senovamate, SK Bioscience plans to expand prescription coverage focusing on general neurologists and specialized nurses, as well as continually improving the sales incentive structure. In the second half of the year, the company plans to bolster marketing capabilities by responding to intensified competition with the reinforcement of technical sales force dedicated to epileptic centers and Key Opinion Leader (KOL) physicians. Furthermore, they are contemplating expanding indications for generalized seizures and extending coverage to pediatric and adolescent age groups by 2025-2026.
SK Bioscience aims to introduce a second commercialized product that can maximize the utilization of its U.S. direct sales infrastructure by the end of this year at the earliest, or by next year at the latest. Last year, they selected ▲radiotherapeutic agents ▲targeted protein degradation therapy ▲cell genetic therapy as the ‘three major new modalities’ and are accelerating R&D efforts in each field based on synergy with the SK Group. An SK Bioscience official mentioned, “In the area of targeted protein degradation therapy, we are developing a degrader that can act on targets without existing therapies through a molecular adhesion discovery innovation platform following the acquisition of SK Life Sciences’ laps last year,” and “In the field of radiotherapeutic agents, we acquired FL-091 candidate substance from Full Life Technology recently and plan to announce competitiveness, clinical plans, and overall business plans in the third quarter.”