SK Bioscience said Monday it signed a deal with the Pan American Health Organization to supply chickenpox vaccine to the Latin American market. It is the first time the company won bidding from PAHO, an international health agency under the United Nations.

The Korean vaccine maker said it received PHO’s interim order for $31.27 million in varicella vaccines. Under the agreement, SK Bioscience will supply SKY Varicella to Latin American countries.

The company is seeking approval for the vaccine in Chile and Mexico.

SKY Varicella, commercialized in 2018, proved immunogenicity and efficacy in children aged between 12 months and 12 years old through a multinational clinical trial that included Latin American participants.

Along with UNICEF, PAHO is one of the world’s largest vaccine suppliers and is responsible for the large-scale supply of vaccines in Latin America.

In 2019, SK Bioscience’s SKY Varicella received the WHO prequalification (PQ), a requirement to become a supplier to international organizations.

SK Bioscience said it planned to promote SKY Varicella in various international procurement markets. The company is also shipping the chickenpox vaccine to Thailand, and it supplied it to Turkey for 1.5 million people last year through public bidding.

Allied Market Research said that the global varicella market is expected to grow 5.6 percent annually from $2.7 billion in 2018 to $4.2 billion in 2026.

“Winning the PAHO deal proved the competitiveness of our vaccine in the global market,” said Ahn Jae-yong, CEO of SK Bioscience. “As SK Bioscience's technological prowess has been recognized overseas, we will grow into a leading company in the global vaccine market by promoting various global businesses.”