SK Biopharmaceuticals Signed a 9% Supply Contract — With Its Own Subsidiary
The ₩63.3 billion deal names SK Life Science, Inc. as the counterparty, and the filing states the relationship: SK Biopharmaceuticals' own subsidiary. The filing ties it to XCOPRI, the company's US-marketed epilepsy drug.
AI-assisted, human-reviewed sourcing. Figures are pulled programmatically from the official sources listed at the end of this article and checked by an editor before publication.
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SK Biopharmaceuticals (KRX: 326030) filed a single sale/supply contract disclosure on 23 September, 2026, worth 9.0% of its most recent annual revenue by the filing’s own stated ratio. The filing names the counterparty’s relationship to the company directly: the buyer is SK Biopharmaceuticals’ own US subsidiary.
The filing, as stated
| Field | Value |
|---|---|
| Contract amount | ₩63,305,392,934 (stated contract total: USD 46,548,083.04) |
| Most recent annual revenue (filing’s own figure) | ₩706,740,960,308 |
| Ratio | 9.0% |
| Counterparty | SK Life Science, Inc. |
| Relationship to company | Subsidiary, per the filing’s own field |
| Execution date | 23 September 2026 |
| Delivery window | 23-25 September 2026 |
We recomputed the ratio independently from the two raw figures in the filing and it matches the filing’s own stated 9.0% to one decimal place.
What the filing says it’s for
Field 9 of the disclosure (“other matters material to investment judgment”) states the contract supplies cenobamate — marketed as XCOPRI® — for sale in the US market. XCOPRI is SK Biopharmaceuticals’ own epilepsy treatment, and SK Life Science, Inc. is the subsidiary through which the company markets it in the United States. Read alongside the “subsidiary” relationship field, this reads as an intercompany manufacturing-to-marketing supply arrangement rather than a new external customer.
What a related-party contract does and doesn’t tell you
A contract between a parent and its own subsidiary is disclosed under the same 2.5%-of-revenue rule as a contract with an unrelated buyer, but it does not represent new demand from an outside customer in the way an arm’s-length contract would — the revenue ultimately depends on how much product the subsidiary itself sells onward in the US market, which this filing does not report. The filing states payment terms (no advance, balance due 120 days after delivery) but not a pricing methodology, so we cannot independently assess whether the transfer price reflects an arm’s-length rate.
This is not investment advice. Figures are drawn from official regulatory filings and are presented for data-quality reporting, not as a trading signal.
Data & Verification Notes
- Data as of
- Sources
- Financial Services Commission (Republic of Korea) / DART — Single sale/supply contract filing, rcept_no 20260923800342, filed 23 September 2026
- Cross-checks
- Contract amount stated in the filing: ₩63,305,392,934 (the filing also states the underlying contract total as USD 46,548,083.04, converted at the 23 September 2026 filing-date rate). Most recent annual revenue stated in the same filing: ₩706,740,960,308. ₩63,305,392,934 / ₩706,740,960,308 = 8.96%, matching the filing's own stated ratio of 9.0%.
- The filing's own field for 'relationship with the company' states 'subsidiary.' SK Life Science, Inc. is SK Biopharmaceuticals' US-based subsidiary.
- Field 9 of the filing ('other matters material to investment judgment') states the contract is for supplying cenobamate (product name XCOPRI®), SK Biopharmaceuticals' own epilepsy drug, for sale in the US market.
- Payment terms stated in the filing: no advance payment, balance due within 120 days of delivery. Contract execution date stated as 23 September 2026, delivery window 23-25 September 2026.
- Excluded figures
- Why the stated delivery window is only two days (23-25 September) against a nine-percent-of-revenue contract amount — the filing does not explain the production or shipment schedule behind that window.
- Whether this is a recurring type of intercompany filing for SK Biopharmaceuticals (i.e., whether similar XCOPRI supply contracts with the same subsidiary have been filed before) — we checked only today's filing for this piece.
- Any transfer-pricing or arm's-length-pricing detail — the filing states the amount and payment terms but not a pricing methodology.
- Instruments
- 326030
The full dataset behind these figures — every listed company, every row — is available to license. SeoulMarkets data for licence →
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