SK Bioscience reported an operating loss of 15.7 billion won in the second quarter of this year, more than halving its deficit compared to the same period last year. The improvement is attributed to better performance from its German subsidiary, IDT Biologika.
On August 10, SK Bioscience announced that its consolidated revenue for the second quarter was 155.7 billion won, with an operating loss of 15.7 billion won. The operating loss decreased by 58% from 37.4 billion won in the same quarter last year, while revenue slightly declined from 161.9 billion won year-on-year.
The company explained that the temporary impact was due to the postponement of some vaccine supply schedules to the third quarter, with those amounts expected to be reflected in the third quarter results.
For the first half of the year, SK Bioscience reported cumulative revenue of 324.3 billion won and an operating loss of 60.3 billion won. Revenue saw a slight increase compared to the previous year, but the operating loss grew due to the relocation of its headquarters to Songdo and increased investment in research and development (R&D).
The improvement in performance was driven by IDT Biologika, which was acquired in 2024. Profitability improved due to increased production volumes from major clients, workforce optimization, and enhanced production yields. The company plans to expand its global contract development and manufacturing organization (CDMO) business by securing high-value contracts and new clients.
SK Bioscience's own vaccine business has also seen success in international markets. Its influenza vaccine, Skycellflu, has secured supply contracts with UNICEF following a previous agreement with the Pan American Health Organization (PAHO), and domestically, it has obtained the maximum volume for the National Immunization Program (NIP).
The varicella vaccine, Skyvaricella, has established a foothold in the Latin American market by signing a technology transfer and local production facility agreement with Colombia's state-owned pharmaceutical company VECOL.
Development of key pipeline products continues. The 21-valent pneumococcal conjugate vaccine, GBP410, co-developed with Sanofi, is currently undergoing global Phase 3 clinical trials in the U.S. and Europe, and the expansion of the commercial production facility in Andong has been completed.
Recently, SK Bioscience was selected for support from the National Growth Fund, securing 300 billion won in long-term funding, which will be used for R&D, commercialization preparations, and upgrading production facilities.
A company representative stated, "In the second half of the year, we will continue to expand IDT's global CDMO business, increase our own vaccine supply, and develop our key pipeline without interruption to strengthen our foundation as a global biotech company."
Additionally, last month, the company passed a regular inspection of manufacturing and quality management standards (GMP) for four vaccines that received prequalification (PQ) certification from the World Health Organization (WHO), recognizing the manufacturing and quality management capabilities of its Andong facility.
* This article has been translated by AI.
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