LG Chem said Tuesday that it participated in a UNICEF tender and won a $200 million contract to supply Eupolio, its polio vaccine, and Eupenta, a multivalent vaccine that treats diphtheria, tetanus, pertussis, hepatitis B, meningitis.

Under the contract, LG Chem will supply $100 million worth of Eupolio for two years from 2024 to 2025 and $100 million worth of Eupenta for five years from 2023 to 2027.

Based on this contract, LG Chem expects it will supply enough vaccines to prevent infectious diseases for about 80 million infants and children worldwide.

LG Chem secured more than 30 percent of the total procurement volume for UNICEF's polio vaccine tender, ranking first in order volume and further solidifying its position as a major global vaccine supplier, the company said.

"LG Chem was able to win a large order from UNICEF based on the UN organization's strong trust in LG Chem's vaccine development and supply capabilities," said Park Heui-sul, head of the Specialty Care Business Unit at LG Chem.

The company plans to play a pivotal role in preventing infectious diseases among infants and young children worldwide by accelerating the development of Eupolio-based hexavalent combination vaccines and improved combination vaccines, Park added.

According to Park, LG Chem is currently developing a hexavalent combination vaccine that combines Eupolio and Upenta and a hexavalent combination improved vaccine for acellular pertussis.

LG Chem's strategy is to establish itself as a leading company in the global essential vaccine market by focusing on developing combination vaccines that can rapidly increase global immunization rates.