(Health Korea News / Lee Chang-yong) ST Pharm, a raw pharmaceutical subsidiary of Dong-A Socio Group, announced on the 19th through a public disclosure that it will supply 38.4 billion won worth of raw pharmaceuticals to a U.S.-based biotech company. ST Pharm did not disclose the transaction partner at the request of the other party for confidentiality.
The raw pharmaceutical product being supplied this time is oligonucleotide, an oligonucleotide therapeutic agent. The contract amount is 38.458 billion won. This is equivalent to 13.5% of Estifarm’s total sales last year (285 billion won). The contract period is from July 18 of this year to December 31, 2025.
The company explained, “The contract amount and contract period may be changed at the request of the other party,” and “This contract amount is the sum of three contracts for the supply of the same item with different contract periods.”
In 2018, Estifarm built the first oligo building to produce oligonucleotides. Then, in 2020, it added the third and fourth floors. Then, last year, all of the oligo manufacturing facilities passed the cGMP regular inspection of the U.S. Food and Drug Administration (FDA). cGMP is the U.S. Good Manufacturing Practices for Pharmaceuticals. It is recognized as a facility that can stably produce and supply oligos that meet global pharmaceutical manufacturing and quality management standards.
Last year, Estifarm also began construction of the second oligo-building. Once the second oligo-building is completed, the oligo production capacity will increase from the current 6.4 mol per year to a maximum of 14 mol per year in 2026.
Oligo drug growth is expected to accelerate. Oligo therapeutics are gradually expanding their scope from rare diseases to chronic diseases. According to Evaluate Pharma, a global market research firm, the oligonucleotide therapeutics market is expected to exceed KRW 30 trillion by 2030.
Global consulting firm Frost & Sullivan has selected Estifarm as the top oligonucleotide CDMO in Asia Pacific in 2022.
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Source: www.hkn24.com
