Committing To Drug Development In World's Biggest Market: SK's Story
South Korean companies are seeking diverse ways to enter global drug markets, and SK Biopharmaceuticals is leading the way by establishing physical R&D and commercial operations in the US to progress its CNS drug pipeline. Executives of SK Life Science, the US subsidiary of SK Biopharmaceuticals, talk to Scrip about why they are committed to developing drugs in the US and what advantages and challenges they have by establishing a footprint in this key market.
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SK Biopharmaceuticals receives US approval for novel anti-epileptic drug, marking a major milestone for the South Korean firm in its goal of becoming a fully integrated global pharma and potentially boosting its huge planned IPO. Through its US subsidiary, the SK Group company will independently market and sell the product in the world’s biggest single market.
With the acquisition of US-based contract development and manufacturing organization AMPAC Fine Chemicals, SK has added the US production base to its European and Korean production facilities, placing it on track to becoming a top global CDMO player with annual production capacity of about 1.6 million liters.