South Korean drug maker LG Life Sciences said Thursday that it has secured a $81 million deal to supply its 5-in-1 multifunctional vaccine Eupenta to UNICEF from 2017-2019.
The LG-owned pharmaceutical firm won the order as part of the UN-based organization’s annual procurement bid for 5-in-1 vaccines, the largest in the world.
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LG Life Sciences’ 5-in-1 vaccine Eupenta (LG Life Sciences) |
LG won 13 percent of UNICEF’s total supply orders set for 2017, 25 percent of orders for 2018, and 34 percent of the orders for 2019. Taken together, the Korean drug maker has secured 24 percent of the available supply quota, which amounts to $81 million.
Eupenta, developed exclusively by LG, is able to protect against five different childhood diseases -- diphtheria, tetanus, whooping cough, hepatitis B and meningitis -- with a single injection.
Given the difficulties in production and stringent quality control regulations, only five other companies in the world, including Swiss global pharma giant Roche, currently sell 5-in-1 vaccines after passing the World Health Organization’s related prequalification standards.
All six companies took part in the UNICEF’s latest procurement bid for the multifunctional vaccine category, according to the LG affiliate.
Looking ahead, LG Life Sciences plans to partake in an additional procurement bid for 5-in-1 vaccines by PAHO, also a UN-based agency. The firm also vowed to speed up the development and commercialization of upgraded 6-in-1 vaccines.
By Sohn Ji-young
jys@heraldcorp.com)
