
SK Biopharmaceuticals Co. CEO Lee Dong-hoon speaks to the press at the JP Morgan Healthcare Conference in San Francisco on Jan. 14, 2024, in this photo provided by his company. (Image courtesy of Yonhap)
SEOUL, Jan. 15 (Korea Bizwire) – SK Biopharmaceuticals Co. (SK Biopharm), a biopharmaceutical arm of SK Group, will establish a joint venture with a major South American biopharma, Eurofarma, in the United States to expand its business there, company officials said Wednesday.
The company announced the plan during the ongoing JP Morgan Healthcare Conference in San Francisco, according to the officials.
The envisioned joint venture will create a telemedicine platform based on artificial intelligence (AI) technology to target epilepsy patients in the U.S., they added.
The global market for remote epilepsy treatment is expected to grow to US$1.8 billion by 2032, with North America accounting for some 47 percent of the total, according to SK Biopharm.
The Korean company has been working to develop an AI-powered epilepsy management solution, including wearable devices to measure brainwaves.
It also plans to boost the performance of its epilepsy medication Cenobamate, sold under the brand name of Xcopri in the United States.
In the third quarter of 2024, the company posted sales of 113.3 billion won (US$77.6 million) in the U.S. with Xcopri, up 49.8 percent from a year earlier.
(Yonhap)