LG Chem (CEO Shin Hak-cheol) signed a contract with UNICEF, an international aid organization, to supply the polio vaccine’Eupolio’ for a total of 80 million dollars (about 87 billion won) to solve the recurrent polio disease worldwide. It was announced on the 7th that it had signed.
According to the company,’Ufolio’ is a next-generation dead vaccine that has undergone an additional process of chemically removing the pathogenicity of the virus by using an attenuated virus (a virus that has weakened toxicity). Vaccine using a virus) has a greater advantage in terms of safety.
At the end of December last year, the company was approved by the WHO as a’Sabin IPV’, the first in the world to be approved for’PQ (Pre-Qualification)’, an essential screening for the supply of a vaccine to the International Aid Agency. It was announced that there is a risk of environmental safety accidents when exposed to viruses such as problems in production facilities with’Salk IPV’.
Accordingly, after PQ approval, based on the excellence of the product, a large-scale supply contract was signed in just three weeks, and from the very next month, it announced that it will start supplying to more than 70 countries around the world, mainly in the Middle East, Africa, and Southeast Asia.
In particular, it said that by supplying more than 20% of UNICEF’s total procurement volume, it has become one of UNICEF’s top 3 polio vaccine suppliers at once.
In addition, the company’s’Bill & Melinda Gates Foundation’, the world’s largest health-related sponsor, highly evaluated LG Chem’s capabilities, and since 2017, the total amount of USD 57.6 million (about KRW 63 billion) has been spent on the hexavalent vaccine project based on the eufolio and the eufolio The company announced that it has successfully commercialized the product by shortening the development period from nearly 10 years to 6 years based on the foundation’s support and effective clinical and licensing strategies.
Ji-woong Sohn, head of the Life Science Business Division, said, “By establishing a global cooperation model with the Bill & Melinda Gates Foundation and UNICEF, LG Chem has played an important role as a major global supplier of polio vaccines.” He added, “So that people around the world can be free from infectious diseases. And I will actively develop an effective vaccine.”
Meanwhile, LG Chem has provided three vaccines including the supply of’Ufolio’ (’96 hepatitis B vaccine’Ubox’ and ’16 pentavalent combination vaccine’Upenta’) through international aid organizations. It has been supplied to the world, and is currently developing a phase 2 clinical trial of a hexavalent mixed vaccine based on’Ufolio’.
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