ST Pharm Signs KRW 89.7 Billion Oligonucleotide Order, Largest Single Contract to Date

Oligonucleotide Order Backlog Reaches KRW 356 Billion

ST Pharm announced on March 16 that it had signed a supply agreement with a global pharmaceutical company for KRW 89.7 billion worth of oligonucleotide API (Active Pharmaceutical Ingredient) for therapeutics. This is the largest single contract for oligonucleotide API in the company's history.

The API covered by this contract will be used in a therapeutics product that has already been commercialized in the global market. The name of the client and the product have not been disclosed due to confidentiality clauses, and the supply period is set from this year through the end of next year.

Exterior view of ST Pharm Banwol Building in Ansan, Gyeonggi Province. ST Pharm

The size of this order is equivalent to approximately 32.8% of ST Pharm's most recent sales of KRW 273.7 billion (based on consolidated sales in 2024).

Following its strong performance last year and contract wins at the beginning of this year, ST Pharm's order backlog for oligonucleotide products is approaching KRW 356 billion, while its total order backlog is nearing KRW 463.5 billion.

As the global oligonucleotide therapeutics market continues to grow, ST Pharm has secured Asia's leading and globally top-tier production capacity through its second oligonucleotide production facility last year, and is actively targeting the market.

In particular, with its outstanding production capabilities, quality control, integrated services, and experience in full-cycle GMP compliance, ST Pharm is establishing itself as a CDMO (Contract Development and Manufacturing Organization) that can proactively respond to diverse customer demands.

A representative from ST Pharm stated, "Our experience in projects that span from early clinical supply to commercial-scale manufacturing is a competitive edge that is difficult to achieve in a short period of time. We will continue to expand our collaboration with global clients based on the expertise and know-how we have accumulated in the global market."

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