Korea Q2 Roundup: Mixed Bag As Pandemic Buoys Some, Hits Others
Prescription Sales Recover But Marketing, One-Offs Have Impact
Two SK Group affiliates benefit from COVID-19 vaccine manufacturing activities and US sales of novel drugs, while other factors such as a recovery in prescription sales, new launches and falling milestone payments affected results at other traditional South Korean pharma firms in the second quarter.
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Following positive interim Phase I/II results, expectations are rising for SK Bioscience’s recombinant COVID-19 vaccine as it becomes the first Korea-developed candidate to progress to Phase III.
South Korean firm teams with Speragen to develop enzyme-replacement therapy for the genetic disorder and with Mirum for maralixibat. Plus deals involving Takeda/PeptiDream, Hanmi/LegoChem, Sun/Cassiopea, LegoChem/Cellectar, ChubLab/CJ CheilJedang Corp., Alebund/Chugai, Kintor/Fosun, Astellas/ExCellThera and I-Mab/neoX/Immorna.
After strong first-quarter results, SK Biopharmaceuticals expects sales growth to accelerate as the US marketing environment improves and as EU sales of epilepsy drug cenobamate begin.