SK Plasma has achieved a groundbreaking milestone in technology exports through its plasma fractionation self-sufficiency project with the Turkish government. This innovative business model, dubbed the Essential Medicines Self-Sufficiency Solution, has gained significant traction in the global market.
On Thursday, SK Plasma announced a landmark technology transfer and licensing agreement with Proturk, valued at 65 million EUR (approximately 75 million USD). After tax deductions, the deal is worth about 110 billion KRW (about 75 million USD), making it the company’s largest licensing agreement since its inception in 2015.
Proturk, a joint venture with the Turkish Red Crescent, aims to establish a plasma fractionation production facility in Turkey. Under this agreement, SK Plasma will license Proturk to manufacture products at the future Turkish facility and transfer crucial research and development (R&D) and production technologies.
SK Plasma plans to fast-track technology transfer to its Turkish subsidiary, accelerating the development of local production infrastructure. The company will gradually implement its advanced manufacturing, production, and quality control systems, developed through years of experience at its Andong plant.
To ensure a smooth transition, SK Plasma will standardize technology transfer procedures using a comprehensive manual and implement systematic risk management throughout the process.
Upon completion of the 600,000-liter annual capacity facility in Ankara’s Cubuk region, Turkey will achieve a stable supply of essential medicines like albumin and immunoglobulin, reducing its complete dependence on imports.
SK Plasma Chief Executive Officer (CEO) Kim Seung-joo emphasized that they’re committed to improving healthcare access for Turkish citizens and building a robust social safety net capable of responding to global health crises. The goal is to extend this self-sufficiency model to other regions, addressing healthcare disparities worldwide.
Kim added that this isn’t just about exporting technology; it’s a comprehensive transfer of SK Plasma’s operational expertise. This approach will serve as the foundation for the future self-sufficiency solution business model.
Proturk, established in November last year, is a joint venture in which SK Plasma will acquire a 15% stake for 15,000 EUR (about 17,400 USD). This structure allows SK Plasma to benefit from ongoing dividends based on the venture’s performance.
SK Plasma is leveraging its expertise in plasma fractionation production, developed at its Andong facility, to expand globally. The company is focusing on countries seeking self-sufficiency in essential medicines, offering local factory establishment and technology transfer.
Building on its success in Indonesia and Turkey, SK Plasma aims to broaden its global reach. The company envisions its essential medicines solution model becoming a cornerstone of the K-Bio industry, promoting healthcare equity worldwide.