SK Biopharma’s Cenobamate US patent extended by 2032
Jeong Min Nam
Nov 10, 2023 (Gmt+09:00)
South Korea's SK Biopharmaceuticals announced on Friday an extension of its US patent for the epilepsy treatment Cenobamate, now set to expire on Oct. 30, 2032.
This five-year extension bolsters the drug's market exclusivity, potentially enhancing its profitability.
Cenobamate, named Xcopri in the US, marked a milestone in November 2019 with FDA approval, followed by a 2020 commercial launch. This drug stands as a testament to Korean innovation, being the first to be fully developed in Korea from its inception to market entry.
"The extension of the patent term means that we have secured long-term, rapid growth until October 2032, as Cenobamate sales are accelerating," SK Bioscience CEO Lee Dong-hoon said.
In the US market, patent-protected drugs often see escalating growth due to consistent demand and year-on-year price adjustments. With Cenobamate's prescriptions on the rise, SK Biopharmaceuticals anticipates a profitable fourth quarter.
Reporting a record-breaking third quarter with sales reaching 75.7 billion won ($57.54 million), Cenobamate continues its streak of increasing sales for the 14th quarter since its debut. September alone saw 22,985 prescriptions, contributing to a steady uptick in the US.
By 2029, Cenobamate is projected to hit the blockbuster mark with anticipated US sales surpassing $1 billion.
Lee aspires to leverage Cenobamate's financial success to transform SK Biopharmaceuticals into a Big-Biotech entity, underpinned by a strong foundation of innovative technology.