SK Bioscience said CEO Ahn Jae-yong presented global partnership strategies for overcoming the next pandemic by establishing regional vaccine hubs at the 2023 Riyadh Global Medical Biotechnology Summit in Riyadh, Saudi Arabia, on Wednesday.

The Riyadh Summit is a national event where global bioindustry officials gather to share future R&D prospects and investment strategies.

Ahn shared the successful experience of his company's first homegrown Covid-19 vaccine, SKYCovione, stressing the importance of global partnerships in health and security and proposing cooperation to quickly establish R&D and production bases in major regions of the world, including the Middle East.

"SK Bioscience can transplant vaccine manufacturing facilities, technologies, and products to countries that need them based on our experience and know-how in R&D and production," Ahn said.

Anh added that if the target country supports funds, human resources, and drug development and manufacturing based on global initiatives, it will be possible to establish a bilateral partnership.

If vaccine manufacturing facilities and technologies are established in countries with insufficient infrastructure, it will be possible to stably supply vaccines needed for future pandemics for the country and surrounding regions, he noted.

"As we have experienced human casualties, economic losses, and crises in the national system, it is time to consider the self-sufficiency of vaccines for national security," Ahn said. "The cooperation model we propose requires strong will and commitment from governments and reasonable compensation for participating institutions."

Based on SK Bioscience’s expertise and manufacturing capabilities of its Andong plant, the company expects the globalization project to help resolve the imbalance in vaccine supply in countries lacking technology and infrastructure and create social and economic value by pioneering a new market for self-developed vaccines.

According to SK Bioscience, discussions are underway in Saudi Arabia, the Middle East, and Southeast Asia, and other countries and regions will likely join the effort.