SK biotek becomes the first South Korean pharma to invest in Ireland
South Korean pharmaceutical company SK biotek has officially opened its facility in Swords, county Dublin.
In opening the facility, which will employ 360 staff, SK biotek becomes the first South Korean pharmaceutical company to invest in Ireland.
The company will manufacture active pharmaceutical ingredients to specification for other pharmaceutical companies on a contract basis.
In addition, the company said that it intends to add marketing and research and development talent to its facility, as well as investing to bring additional active pharmaceutical ingredients manufacturing capacity to the Swords campus.
"The stellar reputation of the Swords campus both in manufacturing and regulatory affairs, and most importantly in its talented workforce will greatly help to drive our near-term ambition to become a leading global contract and development manufacturer," Dr. Junku Park PhD., chief executive of SK biotek, said.
"The establishment of our first manufacturing campus outside of South Korea offers great opportunity for growth which will in turn create additional and exciting new opportunities for our staff in Swords," Dr Park continued.
Last year the company, which is a solely owned subsidiary of SK Group - a Fortune 500 company employing 84,000 globally and generating annual revenue of €99.7bn – announced its acquisition of the former Bristol-Myers Squibb facility, and the deal has now been completed.
The acquisition represents the progression of a growth plan for SK biotek to become a top tier global contract pharmaceuticals manufacturing firm by 2020.
Speaking at the official opening of the campus, Minister of State Michael D’Arcy TD described the investment by SK biotek as a great vote of confidence for what Ireland has to offer, "particularly our talented and flexible workforce."
The opening of the campus was also welcomed by both the South Korean Ambassador to Ireland H.E. Mr. Kang-Il Hu and IDA Ireland.
The news comes at the end of a busy week for Pharma companies, with French giant Sanofi spending $11.6bn to acquire hemophilia drugmaker Bioverativ earlier in the week.