SK bioscience Co.,Ltd. (302440.KS) on Tuesday said it has agreed to a vaccine technology transfer and manufacturing partnership with Colombia's state-owned pharmaceutical company VECOL as part of Colombia's vaccine localization initiative.
The program, led by Colombia's Ministry of Health and Social Protection, the National Health Institute, and VECOL, involves investment of about $260 million over the next 10 years.
Under the agreement, SK bioscience will provide technology and manufacturing know-how for facility development, product introduction, regulatory approval and production operations in Colombia, while VECOL will oversee facility establishment, operations and coordination with public health authorities.
The company said its varicella vaccine, SKYVaricella, was selected as the initial product for technology transfer, with potential expansion into additional vaccine products in the future.
SK bioscience will also secure preferential negotiation rights for vaccines produced through the facility, including both its own vaccines and other vaccine products that may later be adopted by the Colombian government.
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