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S.Koreas SK life sciences to invest $ 132 million to increase vaccine production

so-called life sciences

The word “COVID-19” is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. REUTERS FILE PHOTO

SEOUL – South Korea’s SK Life Sciences said Monday it plans to expand vaccine production by investing around 150 billion won ($ 132 million) by 2024 to add production capacity as well as equip its plant to produce newer mRNA and viral vector vaccines.

The vaccine manufacturer said in a statement that it had signed an agreement with the government of North Gyeongsang province and the city of Andong about 190 km southeast of Seoul to expand its factory there and buy new land.

SK Bioscience said they plan to add some 99,130 ​​square feet of additional production space to the area.

The Andong plant produces COVID-19 vaccines developed by AstraZeneca Plc and Novavax Inc.

The company said last week that the plant had received European Union Good Manufacturing Practice (GMP) certification, enabling SK to export vaccines to Europe.

($ 1 = 1,138,5300 won)

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