SK Bioscience narrows loss in Q2 upon German unit's improvement
Vaccine specialist SK Bioscience narrowed its operating loss in the second quarter while expanding its global business and vaccine pipeline to facilitate future growth. The company said in a regulatory filing Monday that its revenue stood at 155.7 billion won ($110 million) in the April-June period, down 3.8 percent from a year earlier. Its operating loss narrowed to 15.7 billion won from 37.4…
SK Bioscience, a vaccine specialist, managed to narrow its operating loss in the second quarter as its German unit, IDT Biologika, improved its performance. The company reported a revenue of 155.7 billion won ($110 million) for the April-June period, a 3.8 percent decrease compared to the previous year. However, its operating loss narrowed significantly from 37.4 billion won to 15.7 billion won during the same period.
IDT Biologika, a German contract development and manufacturing organization (CDMO) acquired by SK Bioscience in 2024, played a crucial role in this profitability improvement. The earnings of IDT Biologika grew due to increased production volumes for major clients and cost reductions through workforce optimization and higher production yields.
The slight decline in second-quarter revenue was attributed to a temporary delay in the supply schedule for some of SK Bioscience's vaccines, which pushed back to the third quarter. This delay is expected to be reflected in the third-quarter results, limiting the impact on the company's full-year performance.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- SK Bioscience narrows loss in Q2 upon German unit's improvement koreatimes.co.kr
