SK Biopharmaceuticals Achieves Record Q1 Earnings, Driving Global Expansion of Xcopri for Epilepsy Treatment
Leading biopharmaceutical company, SK Biopharmaceuticals, announced its best-ever first-quarter financial results, reporting 227.9 billion won ($157 million) in sales and an impressive 89.8 billion won in operating profit. This remarkable performance was primarily fueled by the continued robust sales growth of its innovative seizure medicine, Cenobamate, known as Xcopri in the United States.
The company highlighted a significant surge in profitability, with operating profit increasing by 94 percent quarter-over-quarter and experiencing an extraordinary jump of approximately 250 percent compared to the first quarter of the previous year.
Despite increased investments in research and development (R&D) and marketing during the January to March period, SK Biopharmaceuticals emphasized that these record quarterly operating profits signify the company’s entry into a powerful, positive cycle. This strategic framework involves generating sustainable profits from its flagship epilepsy treatment, Cenobamate, and reinvesting that robust cash flow directly into accelerating R&D initiatives.
Cenobamate, marketed as Xcopri for adults with partial-onset seizures in the U.S., was the primary driver of the company’s impressive revenue growth. Sales of Xcopri reached 197.7 billion won in the first quarter, representing a substantial 48.4 percent increase year-over-year. The company further reported that monthly Xcopri subscriptions in the U.S. approached 47,000 in March, with more than 2,000 new prescriptions issued – an unprecedented all-time high.
Looking ahead, SK Biopharmaceuticals is strategically focused on extending Xcopri’s commercial lifespan and significantly broadening its market reach within the U.S. This involves pursuing expanded indications for its epilepsy treatment and developing diversified formulations. Concurrently, the company is aggressively expanding its global footprint; it successfully launched commercialization of the drug in China in March and is actively pursuing regulatory approval in Japan, with an optimistic target of receiving it before the close of the year.
Furthermore, SK Biopharmaceuticals outlined its strategic plan to leverage the substantial cash flow generated from Cenobamate sales. These funds will be allocated to strengthening its capabilities in developing disease-modifying treatments for complex central nervous system (CNS) disorders, establishing a robust and sustainable radiopharmaceutical therapy value chain, and accelerating the discovery of novel therapeutic pipelines through cutting-edge targeted protein degradation platforms.
An official from SK Biopharmaceuticals emphasized the company’s unique position, stating, “Among biopharmaceutical firms, SK Biopharmaceuticals stands out as the only company achieving sustainable profit growth driven by novel drug sales.” The official continued, “This distinct structure, where profits consistently increase while simultaneously expanding investments into new therapeutic pipelines, is the hallmark of a ‘big biotech company.’ SK Biopharmaceuticals has unequivocally entered this virtuous cycle of innovation and profitability. We are committed to sharing our extensive experience and advanced infrastructure in new drug development with both the Korean and broader Asian bio ecosystems, fostering collaboration and mutual growth.”
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