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Korea Herald

[Bio USA] SK Biopharmaceuticals CEO highlights resilience, open innovation amid global shifts

Korea Herald correspondent BOSTON — SK Biopharmaceuticals CEO Lee Dong-hoon underscored the company's preparedness for potential US tariff changes and emphasized the critical role of open innovation in shaping the future of global pharmaceuticals. 'We've weathered volatility in our share price over the past year, but the impact of potential price cuts has been minimal,' Lee said Thursday during a press conference on the sidelines of the 2025 Bio USA. 'Our direct-to-market sales model remains fundamentally solid.' He recalled a particularly tense moment earlier this year when shifting US tariff policies posed logistical challenges. In April, the company rushed to transport finished products from Canada into the US before a new tariff deadline. 'When the final truck finally cleared customs, everyone burst into applause,' he recounted. To prevent such risks from recurring, the company now assembles finished products in Canada and ensures shipments cross the border ahead of any policy changes. Looking ahead, SK Biopharmaceuticals is evaluating Puerto Rico as a potential US-based manufacturing site, leveraging its status as a US territory and pharmaceutical hub. 'Canada is cost-effective for now, but we're preparing for every scenario,' Lee said, noting the company's tariff risk is now 'close to zero' for the year. Lee also expressed confidence in the company's long-term growth. 'We've already announced our goal to hit 1 trillion won ($728 million) in sales by 2029, and we're on track,' he said, citing consistent profitability since last year. A cornerstone of SK Biopharmaceuticals' strategy is open innovation. Instead of relying solely on internal research and development, the company is partnering with universities, biotech firms and research institutions. 'Major global pharmaceutical firms are moving away from in-house basic research, and so are we. When you can collaborate and generate results at a fraction of the cost, your possibilities expand," he explained. The CEO emphasized the importance of tapping into underutilized technologies at US universities and biotech startups to diversify the company's pipeline, moving beyond its core focus on epilepsy into areas like oncology. Artificial intelligence is another major focus area. Lee highlighted the company's work on EEG-based seizure prediction models in collaboration with European and South American partners, along with AI algorithm development trials currently underway in Korea. 'AI is no longer optional. It's essential in every part of the business,' he said. One standout partnership is with PhnyX Lab, whose AI-driven automation of clinical documentation significantly reduced paperwork. 'Even our US team, which was initially skeptical, was blown away,' Lee said, calling the shift 'Copernican' in scale for how it will reduce time and cost. The CEO also outlined plans to build a global digital platform for epilepsy patients — a space where patients and physicians can share experiences and insights. 'It's not about selling drugs,' he clarified. 'It's about collecting data to inform AI-powered marketing, drug development and clinical trial design.' The company is looking three to five years ahead, aiming to build an ecosystem where shared data drives innovation across functions. In the US, SK Biopharmaceuticals is intensifying its engagement with health care providers. Lee has personally met with dozens of physicians this year, aiming for 100 meetings, to gather insights that will shape lifecycle strategies such as patent extensions, expanded indications and new formulations like IV delivery. Meanwhile, SK Biopharmaceuticals has invested in targeted TV and YouTube campaigns for its flagship epilepsy drug, Xcopri (cenobamate). Its 'Road to Reduction' campaign drew 9.37 million views in just one month, signaling the brand's growing visibility and leadership in the epilepsy treatment market.