SK Biopharmaceuticals Q3 net income down 23.9% to $40.6 mil.

SK Biopharmaceuticals (SK Biopharm), a biopharmaceutical arm of SK Group, on Thursday reported its third-quarter net income of 54.3 billion won ($40.6 million), down 23.9 percent from a year earlier.

The biotech company said in a regulatory filing that operating profit for the July-September period rose 65.9 percent on-year to 116.3 billion won. Sales also increased 34.8 percent to 258.4 billion won.

SK Biopharm's operating profit was 20.3 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.