● SK chemicals officially launches SK bioscience
- SK chemicals spins off its vaccine business into SK bioscience
- Maximization of enterprise value by enhancing business expertise and management efficiency
- “We will become a globally competitive vaccine maker based on innovative R&D and world-class manufacturing facilities”SK bioscience was officially launched on July 1.
On July 1, SK chemicals announced that it has spun off its vaccine business to set up SK bioscience. The newly-formed company will be a wholly-owned subsidiary of SK chemicals, which will hold 100% of the shares issued by SK bioscience.
Following the spinoff, SK chemicals will enhance its expertise on environmentally-friendly materials and synthetic drugs while SK bioscience will focus on its vaccine business. The new vaccine subsidiary will also focus on facilitating foreign investments and maximize management efficiency to improve its shareholder value.
Ahn Jaeyong, General Manager of SK chemicals’ Vaccine Business Division, was appointed CEO of SK bioscience.
"SK bioscience＇s innovative R&D technology and state-of-the-art production facilities will become the cornerstone of our success," Ahn said. "Based on our core strengths, we plan to establish our identity and reinforce expertise and efficiency to become a competitive global vaccine maker.”
Based on its indigenously developed vaccines, next-generation vaccines that are under development with global partners and a world-class factory, the new company plans to establish a leading position in the domestic market as well as make inroads into overseas markets.
SK bioscience has developed Korea’s only cell-cultured influenza vaccine SKY Cellflu and SKY Cellflu Quadrivalent. The vaccines have exceeded 14 million doses in cumulative sales in Korea within three years after launch. The company is also planning to bid for international contracts through WHO’s Pre-Qualification certification. Moreover, the vaccine maker signed a $155 million contract to export flu vaccine production technology to Sanofi in February this year.
SK bioscience’s SKY Zoster, the second vaccine for herpes zoster to be commercialized globally, achieved a 50 percent market share in Korea in the first year of its launch and made inroads into developing countries. With its varicella vaccine, Sky Varicella Inj., for which sales approval was obtained last month, the company is expected to concurrently supply the vaccine to the domestic market and bid for international contracts.
SK bioscience will continuously forge partnerships with public and private institutions around the globe, such as Sanofi Pasteur, the Bill & Melinda Gates Foundation, International Vaccine Institute and PATH, and attract strategic investors to accelerate expansion into overseas markets.
The company has reliable manufacturing infrastructure to produce and supply all its vaccines. Its world-class vaccine factory, L House, is capable of producing most vaccines developed in Korea through cutting-edge technologies, including cell culture, bacterial culture, genetic recombination and protein conjugate vaccines.
 | Key Achievements of
Ahn Jaeyong
Jul 2018. CEO of SK bioscience
Sep 2016. General Manager of SK chemicals’ vaccine business division
Jan 2014. General Manager of SK Gas’ Business Management Division
Jan 2012. Handled management support at SK E&C
Jan 2010. General Manager of SK chemicals’ Strategic Planning Division
Mar 1998. Joined SK chemicals
May 2005. MBA, The University of Chicago
Aug 1992. Bachelor’s degree in Economics, Yonsei University
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