SK Pharmteco envisions $2 bn revenue by 2025 by adding CDMO for cell/gene therapeutics

[Source: SK Pharmteco]

South Korea¡¯s SK Pharmteco is aiming to generate annual revenue of about $2 billion within three years with its aggressive entry into cell and gene therapeutics markets based on stable growth in contract development and manufacturing of chemical drug substances, the company said in a JP Morgan Healthcare Conference session held in the United States on Monday.

SK Pharmteco is a holding company with large CDMO subsidiaries under its arm for drug substances and cell and gene treatments, including SK Biotek Ireland, AMPAC in the U.S. and Yposkesi in France.

It has grown into a global CDMO with eight production sites and five R&D centers around the world with mainstay products including oncology and diabetes drugs, antivirals, and Covid-19 treatments.

¡°The provisional sales for 2021 amount to 883 billion won ($741.5 million), a remarkable growth of about 7.5 times compared to 2017. We will make a leap forward as a global CDMO with annual revenue of about 2.4 trillion won in 2025 based on cell and gene therapy business as a new growth engine in addition to CDMO business for synthetic drug substances,¡± said Dr. Aslam Malik, CEO of SK Pharmteco during his presentation in the event.

SK Pharmteco plans to scale up its global production capacity by 50 percent by 2025 from the current 1,000 cubic meters through continuous capex spending. The company also aims to pursue a pre-IPO fund-raising this year.

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