LG Chem, based in Korea, has undertaken to manufacture essential vaccinations for millions of newborns and toddlers. The firm has agreed to offer the United Nations Children’s Fund (UNICEF) its polio vaccine Eupolio and its pentavalent vaccine Eupenta, which provides protection against diphtheria, pertussis, tetanus, hepatitis B, and meningitis.
The contract is divided evenly between the providers of both shots. The Eupolio deal is worth $100 million and covers deliveries of the shot for two years, from 2024 to 2025, while LG Chem consented to supply Eupenta for five years, from 2023 to 2027. The agreement is intended to cover immunizations for over 80 million children and newborns worldwide.
In addition, by gaining more than 30% of the overall procurement volume in the polio vaccine bid, the business has solidified its position as a significant global supplier. This is due to LG Chem’s active investment in a manufacturing plant to increase Eupolio manufacturing by more than 60 million doses per year and expand its supply.
Various drugs manufactured by LG Chem obtained World Health Organization Prequalification (WHO PQ) certifications in recent years. For instance, Eupolio and Eupenta obtained WHO PQ certifications in 2020 and 2016, respectively. LG Chem has been supplying critical vaccinations for infants and children for nearly three decades, beginning with the licensure of their hepatitis B vaccine Euvax in 1996. Last year, the company’s vaccination business increased by more than 20% (YoY).
LG Chem is now working on two hexavalent vaccines: one that combines Eupolio and Eupenta, and another that combines Eupolio with an enhanced version of acellular Pertussis (aP).
LG Chem’s biopharma segment aims to generate 2 trillion won ($1.4 billion) in sales revenue by 2027. Recently, the company also expanded its oncology pipeline with the acquisition of Aveo Oncology, a commercial-stage, oncology-focused biopharmaceutical company, for $566 million.
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