SK Plasma Ships First Batch of Contract-Manufactured Blood Products in Singapore... 13.6 Billion KRW Over 3 Years

First Supply to Singapore National Blood Centre
Export Worth 13.6 Billion KRW Over 3 Years
"Targeting the Global Blood Product CMO Market"

SK Plasma announced on the 14th that it has shipped the initial batch of blood products (albumin and immunoglobulin) produced under contract in Singapore.

Blood products for consignment production in Singapore, shipped by SK Plasma.
[Photo by SK Plasma]

This initial shipment follows SK Plasma being selected in 2021 as the sole contract manufacturer for the entire volume by the Singapore National Blood Service and obtaining product approval in Singapore last April. Since then, SK Plasma received approximately 20,000 liters of plasma raw material from the Singapore National Blood Service, produced finished blood products, and shipped them to Singapore.

Starting with this initial export, SK Plasma will exclusively supply blood products worth a total of 15 million Singapore dollars (approximately 13.6 billion KRW) over three years. If the contract manufacturing of blood products is successfully carried out over the three years, the contract may be extended for another three years. SK Plasma plans to produce and export blood products under contract using plasma secured through the Singapore blood service, with approval from Singapore health authorities.

Blood products are pharmaceuticals derived from blood. They are manufactured by fractionating and purifying components within blood to produce medicines such as albumin and immunoglobulin. These products are essential treatments in areas such as shock due to excessive bleeding, congenital immunodeficiency diseases, and hemophilia. Blood products are designated as essential national medicines and are strictly managed because they are widely needed in national disaster situations, such as albumin or immunoglobulin.

SK Plasma expects that this initial shipment will mark the beginning of its global contract manufacturing organization (CMO) business, collaborating with overseas countries to produce blood products under contract using local plasma raw materials.

Seungjoo Kim, CEO of SK Plasma, stated, "With this export, SK Plasma has established its presence in the global CMO market, which had been monopolized by multinational pharmaceutical companies in North America and Europe," adding, "We plan to continuously expand our global business with CMO as a new growth engine."

Meanwhile, SK Plasma is also advancing plans to build a blood product factory in Indonesia. To this end, last October, it signed a term sheet to pursue business cooperation with Indonesia’s sovereign wealth fund (INA) for establishing the blood product factory. In May, construction began on a blood product factory near Jakarta capable of processing 1 million liters of plasma annually. The factory is scheduled for completion in 2025.