SK Pharmteco bags obesity treatment deal worth up to $1.4 bn

Quick Summary:

SK Pharmteco Co., a contract development and manufacturing organization (CDMO), has secured an obesity treatment order worth up to 2 trillion won ($1.4 billion) from a global pharmaceutical company, according to industry sources on Wednesday.

Under the agreement, SK Pharmteco will supply GLP-1 drugs over more than five years, becoming the first South Korean company to win an order for glucagon-like peptide-1 in short supply worldwide.

According to market tracker FnGuide, SK Biopharm is forecast to post 82 billion won in operating profit this year, snapping its losing streak of the past two years.

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Article Details

Category: Economy

Markets: South KoreaBelgiumIndia

Topics: Glp-1 Sales Worth Treatment Obesity Trillion Billion Pharmteco Order Deal Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 17:17:11 (6 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 362 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 16 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 24491012

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