SK Biopharmaceuticals Co., a biopharmaceutical affiliate of SK Group, said Thursday it shifted to the black in the first quarter from a year earlier, driven by the robust performance of its signature medication.
Net profit came to 9.7 billion won (US$7.1 million) in the January-March period, turning from a loss of 2.4 billion won a year earlier, the company said in a regulatory filing.
Operating income was 10.3 billion won, compared with a loss of 22.7 billion won a year ago, and sales rose 87.5 percent to 114 billion won.
The company attributed its improved performance to a strong demand of Cenobamate, a medication used for the treatment of partial-onset seizures.
Sales of the drug, sold under the brand name Xcopri in the United States, soared 68.5 percent on-year to 90.9 billion won in the first quarter.
SK Biopharm said it plans to expand its portfolio to new modalities in cell and gene therapy, radiopharmaceutical therapy and targeted protein degradation, as well as the anti-cancer sector.
Source:
Yonhap News Agency