Becoming the first South Korean pharmaceuticals company to invest in Ireland, SK Biotech acquires Dublin based Bristol- Myers Squibb API. SK biotek is owned by SK Group and is a global life sciences company. The acquisition was completed by the end of 2017 and 360 employees of Swords Campus have transitioned to SK biotek employment for 1st January 2018.
SK biotek aims to be a top tier global contract pharmaceuticals manufacturing firm by 2020. The company plans to operate and develop the Swords Campus a standalone Contract Development Manufacturing Organization (CDMO) that aims to manufacture pharma products to specification on a contract basis for other pharmaceutical companies. Additionally, the facility will also have marketing, research and development (R&D) talent other than the manufacturing capacity.
According to Dr. Junku Park PhD., Chief Executive Officer of SK biotek:
“With Ireland being at the forefront of global pharmaceutical manufacturing excellence, Swords Campus brings with it a strong legacy and rich history – which spans 50+ years of excellence in pharma production. The stellar reputation of Swords Campus both in manufacturing and regulatory affairs, and most importantly in its talented workforce who are joining us on the journey, will greatly help to drive our near-term ambition to become a leading global CDMO. We plan to enhance technological capability and manufacturing capacity and build long-term partnerships with existing and new customers and look forward to growing our presence in Swords in the coming years.”
Dr. Park also added the following about the facility:
“Our early experience of operating in Ireland in working through the acquisition has been very positive. Ireland has a welcoming business environment and a talented workforce. The work-place and cultural engagement has been highly positive and IDA Ireland’s assistance with guidance, introductions and local knowledge has also been very encouraging and much appreciated. 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.”
Commenting the CEO of IDA Ireland, office responsible for attracting FDI to Ireland, Martin Shanahan said:
“Today’s ceremony recognizes the strong economic and cultural links between Ireland and South Korea. IDA Ireland is committed to deepening this relationship and striving to win further investment from South Korea.
Companies like SK biotek come to Ireland because of the high-level of plant engineering capabilities and our rich and strong pool of talent available in the sector. SK biotek has joined a world-class ecosystem of pharmaceutical manufacturing in Ireland and they will have the full support of IDA Ireland as they grow their operations here.”
About SK Biotek
Founded in 2015, SK Biotek manufactures clinical trial materials, pharmaceutical drugs, and intermediates. Headquartered in South Korea, SK Biotek is a subsidiary of SK Group which is a top 100 Fortune 500 Global Company which employs 84000 associates globally with annual revenue of €99.7 billion ($123.2 billion).
About Bristol-Myers Squibb
Founded in1887, Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. Headquartered in New York, USA and employing around 23700 employees, Bristol-Myers Squibb offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.