EuBiologics to build 3rd plant to expand production

Korean vaccine developer to invest W111.5b for new site in Chuncheon

EuBiologics' seoond plant in Chuncheon, Gangwon Province

EuBiologics said Tuesday that its board of directors approved a 111.5 billion won ($76.8 million) investment to expand production capacity and build a third plant.

According to the company, the investment will go toward constructing the new plant at the same site as the company's second plant in Chuncheon, Gangwon Province, through 2028.

EuBiologics said the new plant will have production lines for finished vial vaccines such as typhoid and meningococcal vaccines, as well as drug substance production for Respiratory Syncytial Virus, Herpes Zoster Virus and Alzheimer’s vaccines. The plant will also feature new service lines for biopharmaceutical contract development and manufacturing organization and antibody-drug conjugates in the future.

The company said it targets to enter advanced markets with the RSV, HZV and Alzheimer’s vaccines after 2030.

EuBiologics logged 149 billion won in revenue and 60.7 billion won in operating profit last year, up 76.8 percent and 55.4 percent, respectively, from 2024.

“The third plant will be a turning point for EuBiologics to go beyond a public health vaccine maker and take the leap into becoming a global vaccine, biopharmaceutical company in leading markets,” said a EuBiologics official.

“Based on the stable production capacity, we will achieve a structural growth that leads to enhancing the value of our stockholders by increasing mid- to long-term sales.”