Doosan Corporation Enters Advanced Materials Business for Pharmaceutical Storage... Invests in US Company

Container products for liquid pharmaceuticals and vaccines made of SiO2 Materials Science (SiO2) in the United States. (Photo by Doosan)

[Asia Economy Reporter Jeong Hyunjin] Doosan Corporation announced on the 21st that it will invest $100 million (approximately 119.2 billion KRW) in the U.S. company SiO2 Materials Science, which operates a storage container business using advanced materials for pharmaceutical storage, and enter the advanced materials business for pharmaceutical storage.

SiO2 is a pharmaceutical container company that has secured supply chains for more than 100 mass-produced and clinical products. The company produces storage containers used for COVID-19 mRNA vaccines, as well as containers for liquid pharmaceuticals, pre-filled syringes (PFS), and blood collection tubes (BCT). It also possesses technology to deposit glass-like components in three layers inside containers molded from special plastics and has received approval from the U.S. Food and Drug Administration (FDA).

Doosan Corporation and SiO2 plan to target the COVID-19 vaccine market in the short term and, in the mid to long term, use this as a foundation to replace existing products, and pioneer the markets for new drugs and biopharmaceutical containers. Through this investment, Doosan Corporation has secured exclusive business rights for all SiO2 products in Asia and Oceania and plans to pursue domestic manufacturing in the future.

A Doosan Corporation representative stated, "SiO2 has outstanding technological competitiveness with 245 global patents," adding, "We expect it to grow as a game changer in the global pharmaceutical container market. We will develop the pharmaceutical container business as a new growth engine for Doosan Corporation."

This content was produced with the assistance of AI translation services.