SK Plasma, a subsidiary of SK Discovery, said it won the nationwide tender to supply blood products to Singapore.
âThis is the first time that a Korean pharmaceutical company has won a domestic bid for blood products in Singapore,â the company said. “Until now, multinational pharmaceutical companies have monopolized the market for blood products in the city-state.”
Under the agreement, SK Plasma will exclusively meet Singapore’s demand for blood products for six years from 2023. The company expects to receive around $ 23 million over the period.
SK Plasma plans to use the plasma provided by the Singapore health authorities as a raw material to produce finished blood products such as albumin before returning it to Singapore.
“This achievement is the first instance in which the technological prowess, management and production capabilities of a local company have been recognized by the Singaporean authorities, which have strict quality standards,” said Kim Yun-ho, CEO by SK Plasma. “We expect the agreement to further elevate the status of expertise and technology held by local blood product companies.”
Based on this achievement, Kim also pointed out that SK Plasma plans to accelerate its global business by cooperating with overseas countries to introduce local raw material plasma and promote consignment production.
âSince human blood is the raw material for blood products, the ability to come up with various strategies, such as securing the plasma of the country’s citizens and producing it under contract or establishing a factory directly in each country, is required. of utmost importance. importance, âKim said. âBased on this agreement with Singapore, the company plans to continuously expand its global business by cooperating closely with countries in need of technology for the production of blood products.