SK plasma said Thursday that it has shipped the first batch of blood products (albumin and immunoglobulin) to Singapore, initiating its global contract manufacturing organization (CMO) business.
The shipment follows SK plasma's selection as the contract manufacturer from the Health Sciences Authority (HAS), a statutory board under the Ministry of Health of the Government of Singapore, in 2021, and the acquisition of a product license in Singapore in April of this year.
Since then, about 20,000 liters of plasma has been supplied by the HAS as raw materials, and SK plasma produced blood products in its plant in Andong, North Gyeongsang Province, and shipped them to Singapore.
Starting with the initial shipment, SK plasma will be the exclusive supplier of blood products worth a total of SGD 15 million ($11.3 million) for three years, with an option to extend for an additional three years.
Blood products are manufactured by fractionating and purifying components in the blood into medicines such as albumin and immunoglobulin, and are used as essential treatments for various fields such as shock caused by excessive blood loss, congenital immunodeficiency diseases, and hemophilia.
Blood products such as albumin and immunoglobulin are designated and managed as national essential drugs because they are widely needed in national disaster situations.
Following this inaugural shipment, SK plasma expects its global CMO business to begin in earnest, working with overseas countries to produce plasma on consignment from local raw materials.
"With this shipment, SK plasma has announced its presence in the global CMO market, which has been monopolized by multinational pharmaceutical companies in North America and Europe," SK plasma CEO Kim Seung-joo said. "We plan to continue to expand our global business with the new growth engine of CMO."
Also, SK plasma signed a term sheet with the Indonesia Investment Authority (INA) for the establishment of its blood products plant in Indonesia in October.
The new plant is scheduled for completion in 2025 and will have the capacity to process 1 million liters of raw plasma per year.