Lee Dong-hoon, CEO of SK Biopharm, participated for the first time in the presidential economic delegation's visit to Brazil, aiming to accelerate the company's entry into the $600 million Latin American market.
SK Biopharm announced on July 29 that it has signed a strategic memorandum of understanding (MOU) with Brazilian pharmaceutical company Eurofarma in São Paulo, coinciding with the presidential economic delegation's visit, to intensify its efforts in the Latin American market.
As the only member from the pharmaceutical and biopharmaceutical sector in the economic delegation, Lee inspected the status of the Brazilian launch of cenobamate and discussed local partnerships and plans for future research and development (R&D) and business collaboration. SK Biopharm plans to leverage Eurofarma's capabilities in licensing, distribution, and commercialization to expand its business throughout Latin America.
Under the agreement, the two companies will enhance cooperation in five areas: improving the value of cenobamate products, collaborating on the central nervous system (CNS) pipeline, joint research and development for rare epilepsy, expanding market entry in Latin America, and growing the digital healthcare business through the joint venture 'Mentis Care.'
In particular, both companies will focus on targeting the Latin American epilepsy treatment market with cenobamate. They plan to continue research collaboration to expand indications and enhance treatment value while gradually increasing the number of countries where the product is launched to establish it as a leading treatment in the region.
Cenobamate (local product name 'Xcopri') is set to launch in Brazil through Eurofarma in August. Following its entry into Peru and Chile, this move is expected to mark a turning point in expanding into Brazil, the largest pharmaceutical market in Latin America.
The two companies will also expand their digital healthcare business centered around the joint venture Mentis Care. They plan to enhance mobile application-based solutions to support patient seizure management and real-time health monitoring, creating a platform for healthcare professionals to accurately assess patient conditions.
Lee Dong-hoon stated, "Through this collaboration, we are strengthening our cooperative framework that encompasses the market expansion of cenobamate, the CNS pipeline, rare epilepsy research, and digital healthcare."
Meanwhile, analysts expect SK Biopharm's second-quarter performance to continue its growth trend. Consolidated revenue is projected to reach 239.9 billion won, a 36% increase from the same period last year, while operating profit is estimated to rise by 43% to 88.3 billion won. Additionally, prescriptions for Xcopri in the U.S. are steadily increasing, with no significant changes in the competitive landscape.
Jung Jae-won, a researcher at iM Investment & Securities, noted, "The launch of the competing product, Xenon's 'AzetuCalner,' is expected in 2028, so the expansion of Xcopri prescriptions and overall growth will continue." He added, "There are no significant changes in the competitive landscape for Xcopri, and the trend of increasing prescriptions is ongoing, indicating that robust revenue growth will continue for the time being."
Lee Dong-hoon stated, "Through this collaboration, we are strengthening our cooperative framework that encompasses the market expansion of cenobamate, the CNS pipeline, rare epilepsy research, and digital healthcare."
Meanwhile, analysts expect SK Biopharm's second-quarter performance to continue its growth trend. Consolidated revenue is projected to reach 239.9 billion won, a 36% increase from the same period last year, while operating profit is estimated to rise by 43% to 88.3 billion won. Additionally, prescriptions for Xcopri in the U.S. are steadily increasing, with no significant changes in the competitive landscape.
Jung Jae-won, a researcher at iM Investment & Securities, noted, "The launch of the competing product, Xenon's 'AzetuCalner,' is expected in 2028, so the expansion of Xcopri prescriptions and overall growth will continue." He added, "There are no significant changes in the competitive landscape for Xcopri, and the trend of increasing prescriptions is ongoing, indicating that robust revenue growth will continue for the time being."
* This article has been translated by AI.
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