Report: SK Bioscience to invest $132M toward vaccine production

SK Bioscience revealed today that it plans to grow its vaccine production efforts by investing $132 million by 2024, which will go toward adding to production capacity, and upgrading its plant to make newer mRNA and viral vector vaccines, Reuters reports.

The South Korean vaccine maker said in a statement that it has signed an agreement with the government of North Gyeongsang Province and the city of Andong, located about 118 miles southeast of Seoul, to expand its plant there and buy new land. Currently, the Andong plant produces Covid-19 vaccines developed by AstraZeneca and Novavax. In mid-May, the facility received EU good manufacturing practice (GMP) certification.

SK Bioscience also notes in the published report that it plans to add over one million square feet of production space in that particular area.