Invitation to Over 50 Global Partners
Introduction of Global Strategy Directions for Bio Business
Centered on Korea-US-Europe 'Global Triangular Axis'
Effective SK Inc. Localization Strategy
[Asia Economy Reporter Choi Seoyoon] Investment specialist SK Inc. is hosting a networking event in the United States, the world's largest pharmaceutical and bio market, to expand global partnerships jointly with its bio affiliates such as SK Biopharm and SK Pharmteco.
SK Inc. announced that on the 11th (local time), it will hold the 'SK Bio Night' event at the Four Seasons Hotel in San Francisco, USA, attended by about 100 representatives from 50 companies including SK Inc.'s pharmaceutical and bio companies, global partners, and investment firms.
The event will be attended by the new management team leading SK Inc.'s pharmaceutical and bio business, including Vice Chairman Jang Donghyun, President Lee Donghoon of SK Biopharm, President Yog Algrim of SK Pharmteco, and Kim Yeontae, Head of SK Inc.'s Bio Investment Center. They will share future business directions and engage in sales activities to strengthen cooperation with investors and partners for global business expansion. SK Biopharm, SK Pharmteco, and SK Inc.'s Bio Investment Center recently appointed new CEOs and investment center heads to proactively respond to changes in the global pharmaceutical and bio market and secure future business opportunities.
Kim Yeontae, Head of the Bio Investment Center at SK Inc., will explain the efforts made so far and future directions to expand the business area beyond a portfolio focused on synthetic drugs into the biopharmaceutical field.
SK Biopharm, which successfully launched 'Cenobamate,' the first independently developed epilepsy treatment drug in Korea, in the United States, will have President Lee Donghoon present the current status of Cenobamate's global market expansion and SK Biopharm's strategy for building a next-generation innovative new drug pipeline.
SK Pharmteco, having successfully entered the cell and gene therapy (Cell & Gene Therapy, CGT) field, a new growth area in the pharmaceutical contract manufacturing organization (CDMO) sector, is evolving into a global CDMO company. President Yog Algrim will introduce the business vision, competitiveness, and operational direction as a global CDMO.
Since the early stages of its pharmaceutical and bio business, SK Inc. has enhanced its competitiveness by focusing selectively on synthetic new drugs and CGT CDMO businesses centered on the United States and Europe, the world's largest markets, based on a thorough localization strategy.
Leading with domestic SK Biotech, SK Inc. acquired Bristol-Myers Squibb's Ireland plant (now SK Biotech Ireland) in 2017, followed by the acquisition of Ampac in the United States the next year. In 2019, SK Pharmteco was established to integrate CDMO operations across Korea, the United States, and Europe. In 2021, SK Inc. entered the CGT CDMO business by acquiring France's Iposkesi through SK Pharmteco and became the second-largest shareholder of the U.S. CGT CDMO CBM (Center for Breakthrough Medicine) in 2022.
Currently, SK Pharmteco has grown into a global CDMO with 95% of its customers in the United States and Europe, operating eight production facilities and five R&D centers across the U.S., Europe, and Korea. Last year, it recorded a sharp growth in performance, surpassing 1 trillion KRW in sales for the first time (approximately 780 million USD on a provisional basis).
Meanwhile, SK Inc. plans to continuously discover various business cooperation and investment opportunities in the global market, including the United States, through the bio field global networking event held during 'SK Bio Night.'
Kim Yeontae, Head of SK Inc.'s Bio Investment Center, said, "This event is a great opportunity to showcase our growth to the world and expand global partnerships," adding, "We will seize growth opportunities through localization of the bio business centered on global market bases such as the United States and Europe."
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