SK’s CMO business posted KRW 812 billion last year…
By Chon, Seung-Hyun | translator Kim, Jung-Ju
24.04.09 12:05:38
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Last year's sales fall 11% YoY... due to decreased demand for consignment of COVID-19 drugs
Last year's operating loss turned into a deficit of KRW 89 billion... due to increased investment in facilities of acquired companies etc.
SK Group's contract manufacturing organization (CMO) business posted a deficit last year. Sales reached nearly KRW 1 trillion, but its growth was sluggish. Investments increased due to the expansion of production facilities at acquired companies, and demand for contract manufacture of COVID-19 drugs from overseas pharmaceutical companies decreased.
According to SK on April 9, SK Pharmteco’s sales revenue last year was KRW 812 billion, down 10.5% from the previous year. SK Pharmteco posted an operating profit of KRW 49 billion in 2022 but turned to an operating loss of KRW 89 billion.
▲Quarterly sales of SK Pharmteco (Unit: 100 mil, Source: SK).
Established in January 2020 in California, U.S., SK Pharmteco is SK Group's contract man
Chon, Seung-Hyun(1000@dailypharm.com)
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