LG Chem Signs $200 Million Vaccine Supply Contract with UNICEF

LG Chem's polio vaccine 'Upolio'
Photo by LG Chem

LG Chem will supply essential infant vaccines, including the polio vaccine, to address global child public health issues through UNICEF (United Nations International Children's Emergency Fund).

LG Chem announced on the 14th that it has secured a contract worth a total of $200 million (approximately 261.8 billion KRW) by participating in the UNICEF bidding for the polio vaccine "Eupolio" and the pentavalent (diphtheria, tetanus, pertussis, hepatitis B, meningitis) combination vaccine "Eupenta." Accordingly, LG Chem will supply Eupolio worth $100 million over two years (2024?2025) and Eupenta worth $100 million over five years (2023?2027). This quantity can prevent infectious diseases in about 80 million infants and young children.

In particular, LG Chem secured more than 30% of the total procurement volume in this polio vaccine bidding, ranking first in order volume and solidifying its status as a major global supplier. LG Chem has established an annual production capacity of over 60 million doses of Eupolio through active facility investments to expand polio vaccine supply.

Starting with the hepatitis B vaccine "Euvax" in 1996, LG Chem received WHO (World Health Organization) prequalification (PQ) approval for "Eupenta" in 2016 and "Eupolio" in 2020. Based on this, LG Chem has been supplying essential infant vaccines worldwide for about 30 years. Last year, the vaccine business recorded a growth rate of over 20% compared to the previous year. Currently, development is also underway for a hexavalent combination vaccine combining Eupolio and Eupenta, as well as an improved acellular pertussis (aP) hexavalent combination vaccine.

Park Hee-sul, Executive Vice President and Head of the Specialty-Care Division overseeing the vaccine business, said, “Based on the strong trust of UN agencies in LG Chem’s vaccine development and supply capabilities, we succeeded in securing a large order in the UNICEF bidding. We will accelerate the development of hexavalent combination vaccines based on Eupolio and improved combination vaccines to play a pivotal role in preventing infectious diseases in infants and young children worldwide.”

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