SK Biopharm's Q3 operating profit up 66% on US sales of seizure drug

SK Biopharmaceuticals, a biopharmaceutical arm of SK Group, said Thursday its operating profit rose 65.9 percent from a year earlier, boosted by robust U.S. sales of oral anti-seizure medication. The company reported an operating profit of 116.3 billion won in the July-September period, according to its regulatory filing. Sales increased 34.8 percent to 258.4 billion won. But net income was down 23.9 percent to 54.3 billion won. The sharp rise in operating profit came despite adjustments to the won-dollar exchange, helped by the robust growth of its seizure drug, Cenobamate, also known as Xcopri in the United States, the company said. The strengthening of the won also helped lower costs, it added. The sales generated in the U.S. from the oral prescription drug came to $156.8 million, up 29.9 percent on-year, the company said. The drug's aggregate sales as of end-September have reached 76 percent of the upper-end of its revenue guidance for the year of $580 million, according to the company. Lee Dong-hoon, the chief executive officer of SK Biopharm, said its efforts in the U.S. market have