SK Plasma Selected as Sole Winner in Singapore National Blood Products Tender... Worth 27 Billion KRW

SK Plasma Andong Plant (Photo by SK Plasma)

[Asia Economy Reporter Lee Chun-hee] SK Plasma has become the first domestic company to win the national tender for blood products in Singapore, securing exclusive supply of the entire national project for six years.

SK Plasma, a subsidiary of SK Discovery, announced on the 21st that it was selected as the contract manufacturing organization (CMO) to produce the entire supply of blood products for the Singapore government in the national tender for blood products by the Singapore health authorities. This is the first time a Korean pharmaceutical and bio company has succeeded in winning a bid for Singapore's national blood product project. SK Plasma expects the scale of the project from this tender to reach approximately $23 million (about 27 billion KRW).

SK Plasma plans to sign the main contract with the Singapore government within this year. From 2023, it will exclusively manufacture albumin and human immunoglobulin blood products for six years. The Singapore health authorities will supply plasma secured from their national blood centers to SK Plasma, which will produce finished blood products such as albumin using the plasma as raw material at its Andong plant and then ship them to Singapore.

The Singapore government has been promoting a project to procure blood products through national tenders and supply them to its citizens. Especially since the Singapore health authorities maintain high standards of quality and regulations for pharmaceuticals, most CMOs had been awarded to multinational pharmaceutical companies until now.

Kim Yoon-ho, CEO of SK Plasma, said, "This is the first case where a domestic company’s technology, management, and production capabilities have been recognized by the Singapore authorities, who have stringent quality standards." He added, "Based on this achievement, we plan to continuously expand our global business by closely cooperating with countries that require blood product manufacturing technology."