Q3 Revenue Hits KRW 182.4B; Operating Loss Narrows to KRW 11.2B, Lowest in 11 Quarters

Subsidiary IDT Achieves 56% YoY Increase in Cumulative Operating Profit, Demonstrating Robust Profitability Improvement

Sustained Revenue Growth Driven by Proprietary & In-Licensed Products Alongside Continuous Pipeline Development

SK bioscience announced on November 5 that it recorded consolidated revenue of KRW 182.4 billion in the third quarter of 2025, marking a 21% year-over-year (YoY) increase compared to KRW 150.8 billion in the same period last year. The company successfully returned to pre-tax profitability with KRW 6.1 billion, while narrowing its operating loss by 42% YoY to KRW 11.2 billion?the lowest loss recorded across the past 11 quarters since Q4 2023, despite ongoing strategic R&D and infrastructure investments.

The company’s growth was primarily fueled by the strong performance of its subsidiary, IDT Biologika (IDT), as well as increased sales of both proprietary and in-licensed vaccines.

IDT, which has undergone continuous operational optimization since its acquisition in 2024, proved its role as a core growth driver by simultaneously expanding revenue and profitability. IDT reported Q3 revenue of KRW 113.1 billion, up 21% YoY (KRW 93.7 billion), and an operating profit of KRW 9.6 billion, representing a 66% YoY increase (KRW 5.8 billion). Higher production volumes for major clients, an increased proportion of high-margin product sales, and enhanced operational efficiency all contributed to this profitability boost. IDT´s cumulative operating profit through Q3 reached KRW 22.3 billion, a 56% increase YoY compared to KRW 14.3 billion.

In its in-house commercial operations, sales growth was driven by SK bioscience´s proprietary varicella (chickenpox) vaccine, SKYVaricella, and its vaccine distribution partnership with Sanofi. Expanded supplies of SKYVaricella to international organizations such as the Pan American Health Organization (PAHO) in regions including Colombia boosted top-line growth. Meanwhile, the Sanofi vaccine portfolio experienced strong sales momentum, propelled by Beyfortus (RSV preventive monoclonal antibody) and Hexaxim (6-in-1 combination vaccine).

Looking ahead, SK bioscience plans to leverage IDT and its proprietary vaccine portfolio as dual engines of growth, while accelerating the expansion of next-generation vaccine pipelines and global market footprint.

IDT plans to continuously strengthen its global CDMO competitiveness by enhancing operational efficiency, securing high-value contracts, and optimizing its client portfolio across key strategic markets, including North America and Japan. Collaborative synergies between SK bioscience and IDT are also deepening. Following joint participation in projects such as MSD’s next-generation Ebola vaccine and the EU HaDEA’s next-generation influenza vaccine, both companies recently joined a BARDA-funded project with IAVI to develop and manufacture a Bundibugyo Ebola virus vaccine.

SK bioscience also continues to expand its R&D pipeline through partnerships with global research institutions and pharmaceutical companies. The 21-valent pneumococcal conjugate vaccine candidate, "GBP410," jointly developed with Sanofi, is currently in global Phase 3 clinical trials, with topline data readout targeted for next year. Additionally, "RSM01," an RSV preventive antibody candidate licensed from Gates MRI, secured funding from the RIGHT Foundation and submitted a Clinical Trial Application (CTA) for a global pediatric Phase 1b trial to the South African Health Products Regulatory Authority (SAHPRA) in August.

Leveraging its proprietary vaccine business growth and IDT’s global manufacturing capabilities, SK bioscience aims to improve core business profitability while translating clinical-stage pipeline achievements into future commercial drivers.