SK Bioscience Reports Q3 Sales of 150.8 Billion KRW and Operating Loss of 19.4 Billion KRW

One Year After Acquiring IDT,
Sales Quadruple as External Growth Accelerates

SK Bioscience continued its external growth, driven by the stable performance contribution of its subsidiary IDT Biologika (IDT) and the solid sales of its proprietary vaccines.

On November 3, SK Bioscience announced that, on a consolidated basis, it recorded sales of 150.8 billion KRW and an operating loss of 19.4 billion KRW in the third quarter of this year. Sales increased approximately 2.5 times compared to the same period last year (61.6 billion KRW), maintaining its growth trend, while the scale of operating loss was reduced by more than 50% from the previous year (a loss of 39.6 billion KRW), showing improved profitability. Compared to the second quarter of this year (a loss of 37.4 billion KRW), the deficit also shrank by nearly 50%. This improvement is attributed to enhanced financial stability resulting from production efficiency and cost structure improvements at IDT. However, operating losses continued due to ongoing clinical trials of key pipelines and continued R&D investment.

IDT, which SK Bioscience completed the acquisition of in October last year, has consistently contributed to external growth through steady sales. SK Bioscience’s cumulative consolidated sales for the third quarter of this year reached approximately 467.2 billion KRW, representing more than a fourfold increase compared to the same period last year. Following its acquisition by SK Bioscience, IDT has focused on securing new customers and expanding orders, particularly in Europe and North America, while strengthening its global CDMO competitiveness through production efficiency and advanced quality management. Based on these efforts, the likelihood of achieving annual profitability this year has also increased.

SK Bioscience’s proprietary vaccines have also shown strong sales. The cell-culture influenza vaccine SKYCellflu has been actively supplied from the start of the domestic vaccination season, and exports to Southeast Asian markets such as Thailand and Malaysia are also on the rise. The varicella vaccine SKYVaricella is being supplied smoothly from 2025 to 2027 under a long-term contract with the Pan American Health Organization (PAHO). Additionally, SK Bioscience has submitted a domestic phase 3 clinical trial plan (IND) to the Ministry of Food and Drug Safety to add a two-dose indication, preparing for market expansion. This move aligns with the global trend of recommending two-dose vaccinations and is expected to become a foundation for strengthening global competitiveness. The herpes zoster vaccine SKYZoster is also being prepared for entry into Southeast Asian markets, along with increased supply to local governments.

Sanofi vaccines distributed by SK Bioscience are also contributing to sales growth. The hexavalent combination vaccine Hexaxim continues to be supplied stably through the national immunization program, and the RSV preventive antibody injection Beyfortus has begun to be administered to infants and young children. The simultaneous growth of these proprietary and distributed products has further solidified SK Bioscience’s domestic and international sales base.

SK Bioscience continues to invest in future growth despite ongoing deficits. The company, which invested more than 100 billion KRW in R&D last year, is expected to increase its investment scale even further this year.

In terms of R&D, next-generation vaccine development and production infrastructure upgrades are being pursued in parallel. The 21-valent pneumococcal conjugate vaccine, co-developed with Sanofi, is progressing smoothly in phase 3 clinical trials in major global markets such as the United States, Europe, and China. The expansion of the Andong L House facility for commercial production has been completed, and preparations are underway for cGMP certification in the United States to enable global supply.

Additionally, a global phase 1/2 clinical trial of a Japanese encephalitis vaccine using an mRNA (messenger ribonucleic acid) platform is underway, with key results expected within the year. Based on this, SK Bioscience aims to internalize mRNA technology capabilities and expand into the development of new vaccines in the future.

Development of the Sabeco virus vaccine, which provides broad preventive effects against the coronavirus family, has also begun in earnest. Rather than targeting individual viruses, SK Bioscience plans to develop a vaccine effective against the entire family, establishing a universal vaccine platform that can prevent related viruses and variants at once. The company recently applied for a global phase 1/2 clinical trial for this vaccine in Australia and expects to confirm key results in 2028.

SK Bioscience plans to achieve continuous growth through the commercialization of pneumococcal vaccines, development of next-generation vaccines, and expansion of its global CDMO business centered on IDT.