SK Bioscience reported first-quarter revenue of 154.6 billion won ($115.2 million), a sevenfold increase from a year earlier, following its acquisition of German manufacturer IDT Biologika last October. The South Korean vaccine developer still posted an operating loss of 15.1 billion won, though that marked a 46% improvement from the 28.1 billion won loss in the same period last year.
The company’s performance boost stems from IDT’s continued profitability since being acquired in late 2024 and stronger sales of SK’s self-developed vaccines. IDT, which had been unprofitable until the third quarter of last year, turned profitable immediately after the acquisition and maintained that momentum into 2025. SK Bioscience aims for IDT to reach annual sales of 410 billion won this year.
SK’s own vaccine portfolio is expanding globally. Its influenza vaccine “SKYCellflu” has increased exports to the Southern Hemisphere, while its chickenpox vaccine “SKYVaricella” secured additional contracts with the Pan American Health Organization through 2027. The company’s strategic collaboration with Sanofi for domestic distribution of six vaccines has further strengthened its market position.
Despite the improved quarterly results, SK Bioscience continues investing heavily in R&D, including development of next-generation pneumococcal vaccines and mRNA technology applications.
