Xcopri’s cumulative revenue surpasses KRW 1 trillion

Supported by smooth sales in the US and licensed-out technology fees

SK Biopharm’s Xcopri sales reach KRW 90.9 billion in the US in Q1 this year…record-high

Cumulative sales in the U.S. totals KRW 621.7 billion...secured over KRW 400 billion from licensing fees as revenue

Xcopri, SK Biopharmaceutical's new epilepsy drug, is continuing to show strong growth in the US market.

 

Since its launch, sales have continued to rise every quarter, with cumulative sales exceeding KRW 600 billion.

 

When including the revenue it had collected by licensing-out Xcopri’s technology, the company has secured more than KRW 1 trillion with Xcopri alone.

 

According to SK Biopharmaceuticals on Thursday, Xcopri recorded KRW 90.9 billion in US sales in Q1 this year.

 

This is a 68.6% rise from the KRW 53.9 billion it had posted in Q1 last year and is the largest amount earned since the drug entered the US market.

 

This is also a 17.0% increase in a single quarter, from the KRW 77.7 billion in Q4 last year.

 

 Quarterly U.S.

 

sales of Xcopri (Unit: KRW 100 million, Source: SK Biopharmaceuticals)

Xcopri, which contains ‘cenobamate,’ is a new drug for epilepsy that SK Biopharmaceuticals.

 

SK Biopharmaceuticals had independently performed the whole course of Xcopri’s development and commercialization from early development to US Food and Drug Administration (FDA) approval.

 

It is prescribed for the treatment of partial-onset (focal) seizures in adult patients.

 

Its mechanism of action relieves seizure symptoms by simultaneously regulating two targets related to excitatory and inhibitory signaling, which are causes of epilepsy.

 

The company received approval for its cenobamate under the brand name ‘Xcopri’ in November 2019, and has been selling the drug through SK Life Science since May 2020.

 

SK Life Science has about 150 medical representatives.

 

Epilepsy is a condition that is treated by a small number of focus specialists in the United States.

 

Due to the small number of target physicians, the company was able to sell the drug directly in the U.S.

 

with such a small sales force.

 

SK Life Science’s marketing center, which consists of sales and marketing personnel, has experts with more than 20 years of experience in successfully launching and selling epilepsy treatments and major central nervous system drugs at Johnson & Johnson, UCB, and other leading companies in the U.S.

 

CNS market.

 

Since its U.S.

 

launch, Xcopri has been setting new sales records every quarter.

 

It generated its first revenue of KRW 2.1 billion in Q2 2020 and surpassed KRW 10 billion in Q1 2020.

 

Its sales surpassed KRW 50 billion in revenue in Q1 last year and have reached nearly KRW 100 billion in quarterly revenue this year.

 

Xcopri’s cumulative revenue in the US totaled KRW 621.7 billion.

 

Since 2019, Xcopri has earned more than KRW 400 billion in technology fees.

 

In February 2019, SK Biopharmaceuticals signed a licensing-out agreement with Switzerland's Arvelle Therapeutics to transfer technology on cenobamate for up to $530 million.

 

At the time, SK Biopharmaceutical received an upfront payment of $100 million with no obligation of return.

 

In October 2020, the company entered into an exclusive licensing agreement with Ono Pharmaceutical for Ono to develop and commercialize Xcopri in Japan.

 

Under the agreement, SK Biopharmaceutical received an upfront payment of ¥5 billion with no obligation of return.

 

In November 2021, SK Biopharmaceuticals licensed out 6 new central nervous system (CNS) drugs including cenobamate to the Chinese company, Ignis Therapeutics.

 

Under the deal, SK Biopharmaceutical received an upfront payment of $20 million.

 

Through the technology export, SK Biopharmaceutical also acquired 150 million shares of Ignis (share amounts to 44.9% including common stock).

 

In December 2021, SK Biopharmaceutical signed a license deal with Endo Group for the commercialization of its epilepsy drug cenobamate across Canada.

 

Under the deal, SK Biopharmaceutical received an upfront payment of CAD 20 million.

 

Paladin Labs Inc, a Canada-based operating subsidiary of Endo, will be responsible for all commercial activities related to cenobamate in the region, including its release.

 

Endo is a global healthcare company headquartered in Ireland.

 

In July last year, SK Biopharmaceuticals signed a licensing out deal with the Brazilian pharmaceutical company Eurofarma Laboratorios SA for cenobamate.

 

Under the agreement, SK Biopharmaceuticals will receive an upfront payment of USD 15 million and up to USD 47 million in milestone payments.

 

Under the licensing out agreement, Eurofarma will be selling cenobamate in 17 Latin American countries including Brazil and Mexico In addition to upfront payments, the company has also received milestone payments upon cenobamate’s approval abroad.

 

SK Biopharmaceuticals received USD 123.22 million from its European partner Angelini Pharma as milestone payments in 2022.

 

Angelini Pharma (formerly Arvelle Therapeutics UK) has paid additional milestone payments after receiving marketing authorization for Xcopri from the European Commission in March 2021.

 

SK Biopharmaceuticals’ cash inflow from upfront payments and further milestones from the technology transfer of cenobamate is USD 301.22 million and ¥5 billion.

 

The company has secured about KRW 450 billion through upfront and milestone payments through technology transfer agreements with cenobamate.

 

Combined with US sales, the single product had brought in over KRW 1 trillion.

 

Xcopri’s sales growth has also improved SK Biopharmaceuticals’ performance.

 

In Q1 this year, SK Biopharmaceuticals posted an operating profit of 10.3 billion won, a YoY turnaround and its sales rose 87.5% YoY to KRW 114 billion.

 

An official from SK Biopharmaceuticals said, "This is the first time since its establishment that SK Biopharmaceuticals has achieved a surplus for 2 consecutive quarters, and it is significant that the profitability in Q1 was achieved entirely due to the growth of cenobamate’s sales in the US.”