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SK Bioscience starts business
  • By Lee Han-soo
  • Published 2018.07.02 15:00
  • Updated 2018.07.02 15:00
  • comments 0
SK Bioscience CEO Ahn Jae-yong

SK Chemicals announced on Sunday that it has completed the spinoff of its former vaccine business division into a new company, SK Bioscience.

The company appointed Ahn Jae-yong, the former senior vice president and head of SK Chemicals VAX business group, as SK Bioscience’s first CEO.

SK Chemicals hope the spinoff will help enhance shareholder value through maximizing management efficiency, strengthening the expertise of its bio-business, and attracting foreign investment.

The new company plans to establish a leading position in the domestic market based on its self-developed vaccine and world-class factory.

SK Bioscience currently owns Skycellflu and Skycellflu4, which have surpassed a local cumulative sale volume of 14 million doses within three years of its launch. The company has also signed a $155 million contract to export flu vaccine production technology to Sanofi in February this year.

Skyzoster, its shingles vaccine, has also managed to obtain 50 percent share of the local shingles vaccine market in the first year of its launch.

"SK Bioscience's innovative R&D technology and state-of-the-art production facilities will become the cornerstone of our success," Ahn said. "Based on our core strengths, we plan to become a company specializing in vaccines.”

corea022@docdocdoc.co.kr

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