(LEAD) SK Biopharmaceuticals swings to net profit in Q2

SK Biopharmaceuticals Co., a biopharmaceutical affiliate of SK Group, said Thursday it turned to net profit in the second quarter from a net loss a year ago, driven by higher sales. Its net profit came to 24.6 billion won (US$17.8 million), turning from a loss of 23.3 billion won a year earlier, the company said in a regulatory filing. Operating profit for the April-June period was 26 billion won, compared with a loss of 18.9 billion won a year ago, and revenue rose 74 percent on-year to 134 billion won. The operating profit was 103.8 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. The company attributed the strong performance to the sales growth of its epilepsy medication, Cenobamate, in the United States. The drug, sold under the brand name Xcopri in the U.S., earned 105.2 billion won in sales statewide for the three-month period through June, up 65.8 percent from a year ago. It marked the first time quarterly sales of Cenobamate in the U.S. exceeded the 100 billion won threshold. SK Biopharm said it plans to expand the usage of Cenobamate, which is currently being subscribed for the treatment of partial-onset seizures in adults, to generalized seizures and to children and teenagers over the next two years. The company also plans to work to diversify its portfolio into new modalities and anti-cancer treatments. Source : Yonhap News Agency