LG Chem locks in $200M vaccine supply deal with UNICEF
March 16, 2023
Source: drugdu
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Korea’s LG Chem is stepping up to the plate with a deal to manufacture essential vaccines for millions of infants and children.
The company has locked up a $200 million deal with the United Nation’s Children’s Fund (UNICEF) to supply both its polio shot Eupolio and its pentavalent vaccine Eupenta, which protects against diphtheria, pertussis, tetanus, hepatitis B and meningitis.
The contract is evenly split between supplies of both shots. The $100 million Eupolio contract provides supplies of the shot for the two years from 2024 to 2025, while LG Chem agreed to provide Eupenta for the five-year stretch from 2023 to 2027. The deal is expected to cover vaccines for roughly 80 million kids and infants around the world.
LG Chem credited the deal to its investment in a factory in Osong, Korea. The site can produce more than 60 million dodses of Eupolio per year, according to the company.
Beyond this deal, LG Chem plans to further cement its role in fighting infectious diseases by developing “improved” combination vaccines based on Eupolio, Park Heui-sul, head of LG Chem’s specialty care business unit, said in a statement.
Original Link: https://www.fiercepharma.com/manufacturing/lg-chem-locks-200m-vaccine-supply-deal-unicefI
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