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LG Life Sciences Wins US$81M Vaccine Deal with UNICEF
Vaccine Deal with UN
LG Life Sciences Wins US$81M Vaccine Deal with UNICEF
  • By Lee Song-hoon
  • October 21, 2016, 01:45
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LG Life Sciences’ 5-in-1 vaccine Eupenta.
LG Life Sciences’ 5-in-1 vaccine Eupenta.

 

LG Life Sciences announced on October 20 that it has secured a US$81 million (91.41 billion won) deal to supply its 5-in-1 multifunctional vaccine Eupenta to UNICEF from 2017 to 2019.

The pharmaceutical firm won the order as part of the U.N.-based organization’s regular procurement bid to supply 5-in-1 vaccines to 80 countries, which is the largest in the world. Six companies, including LG Life Sciences, took part in the UNICEF’s latest procurement bid for the multifunctional vaccine category

The company has secured 24 percent of UNICEF’s total supply orders for three years – 13 percent in 2017, 25 percent in 2018 and 34 percent in 2019, emerging as its major supplier and exporting domestically developed 5-in-1 vaccines in earnest.

In addition, LG Life Sciences expects to export its vaccines worth more than US$100 million (112.85 billion won) to U.N. agencies, including UNICEF, for the next three years when it succeeds in winning an additional procurement bid by the Pan American Health Organization (PAHO).

A spokesperson of LG Life Sciences said, “We succeeded in winning the large regular deal from UNICEF in a short period of time after our Eupenta passed the World Health Organization’s related prequalification standards in February this year. It shows the confidence of U.N. organizations in the quality of LG Life Sciences’ multifunctional vaccines. Based on the latest procurement deal from the U.N.-based agency, we will not only receive more orders for Eupenta from other countries, but also accelerate the commercialization of our pneumococcal vaccines, polio vaccines and 6-in-1 multifunctional vaccines that are currently under development in order to grow into the leading firm in the global vaccine market, including the U.N. market.”