Bio & Pharma
SK Plasma gets investment from Indonesian fund
The INA will spend up to $50 mn in its first collaboration with a S.Korean company for a blood product plant
By Oct 10, 2023 (Gmt+09:00)
1
Min read
Most Read
LG Chem to sell water filter business to Glenwood PE for $692 million


Kyobo Life poised to buy Japan’s SBI Group-owned savings bank


KT&G eyes overseas M&A after rejecting activist fund's offer


StockX in merger talks with Naver’s online reseller Kream


Mirae Asset to be named Korea Post’s core real estate fund operator



South Korea’s SK Plasma on Tuesday said it signed a term sheet, or a nonbinding agreement on the basic terms and conditions of an investment, with the government-owned sovereign wealth fund Indonesia Investment Authority (INA) on major transaction terms for building a blood product plant in the Southeast Asian country.
Launched in November 2020, the INA seeks direct and foreign investment under the goal of streamlining Indonesian infrastructure and contributing to economic development. As the first project between the fund and a South Korean company, this contract will have the INA invest up to $50 million (66.9 billion won) and participate in operations as the No. 2 shareholder.
Blood products are medicines made from blood in which components in blood are fractionated and purified for use in manufacturing pharmaceuticals such as albumin and immunoglobulin. These are essential for treating conditions like shock from excessive bleeding, congenital immunodeficiency disease and hemophilia.
Such products like albumin and immunoglobulin are designated and managed as essential national medicines given their urgent need in a natural disaster.
In March, the Indonesian Ministry of Health approved SK Plasma’s bid to build the plasma fractionation plant. Slated for completion in 2025, the facility will process a million liters of raw plasma per year.
After the plant’s completion, the joint venture will supervise operations, business rights, production and sales. It will supply blood products under Indonesian regulations and help Indonesia’s self-sufficiency in national essential medicines.
“Construction of the blood product plant will be sped up through the Indonesian government’s support and the INA’s participation,” SK Plasma CEO Kim Seung-joo said. “A groundbreaking ceremony at the site will be held this year with leading figures from both countries.”
Write to Young-Ae Lee at 0ae@hankyung.com
More to Read
-
Bio & PharmaSK Plasma to supply $30 mn in blood products to Singapore
Jun 28, 2023 (Gmt+09:00)
1 Min read -
Bio & PharmaSK Plasma to build blood products plant in Indonesia
Mar 08, 2023 (Gmt+09:00)
1 Min read -
Bio & PharmaSK Plasma, Janssen Korea sign sales, distribution agreement
Feb 14, 2023 (Gmt+09:00)
1 Min read
Comment 0
LOG IN