SK Bioscience Signs 68 Billion KRW Supply Contract for Influenza Vaccine Bulk with Thai State-Owned Pharmaceutical Company

SK Bioscience announced on the 21st that it has signed a supply contract for cell-cultured influenza vaccine bulk with GPO (Government Pharmaceutical Organization), a state-owned pharmaceutical company under the Thai government.

SK Bioscience signed a memorandum of understanding last month on the 5th with GPO, a state-owned pharmaceutical company under the Thai government, to establish infrastructure for local vaccine production and development in Thailand. Opas Kankawinpong, Deputy Minister of the Thai Ministry of Health; Minkwan Supanpong, CEO of GPO; Jae-yong Ahn, President of SK Bioscience; and Jo-young Jeon, Minister at the Korean Embassy in Thailand. (From left)
Photo by SK Bioscience

This contract was signed to supply cell-cultured influenza vaccine bulk to GPO through Thailand's BGT (Biogenetech) following the transfer of finished product technology of the cell-cultured influenza vaccine from SK Bioscience to Thai GPO.

The contract amount is KRW 67,992,290,000, and the contract period is from August 18, 2023, to August 18, 2033. However, the actual contract period is 10 years from the first launch of the licensed product in the Thai region and may vary depending on market conditions and contract terms. SK Bioscience explained that the contract amount is "based on the minimum purchase quantity and unit price stipulated in the contract" and "may change later according to agreements with the contracting party."

GPO is a state-owned pharmaceutical company established to promote health in Thailand. Since its establishment in 1966, it has produced and supplied pharmaceuticals and vaccines within Thailand. Thai public hospitals are required to use at least 60% of GPO products, including pharmaceuticals and medical devices.

This contract was carried out as part of SK Bioscience's "Glocalization" business. Glocalization is a project that transfers SK Bioscience's research and development (R&D) and production infrastructure to countries with insufficient vaccine infrastructure. Through the Glocalization business, SK Bioscience expects to contribute to resolving vaccine supply imbalances in countries lacking technology and infrastructure and to create value by pioneering new markets for its self-developed vaccines.

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