|LG Life Sciences’ 5-in-1 vaccine Eupenta (LG Life Sciences)|
The PQ approval grants LG eligibility to join the United Nation’s procurement bid for 5-in-1 vaccines this year, which means it could become a potential stable vaccine supplier to key U.N. affiliates like UNICEF and PAHO.
Eupenta, developed exclusively by LG, is able to protect against five different childhood diseases -- diphtheria, tetanus, whooping cough, hepatitis B and meningitis -- with a single injection.
Given the difficulties in production and stringent quality control regulations, only six companies in the world, including global pharma giant Roche, have met the WHO’s 5-in-1 vaccine PQ standards. LG is now set to join this small pool with the introduction of Eupenta.
“We hope to seal major supply deals with U.N. affiliates. We also plan to independently export Eupenta in global markets in South America, Asia and the Middle East,” LG Life Sciences said in a statement.
The Korean drugmaker expects to rack up about 100 billion won ($86 million) in fresh revenue once it begins supplying its 5-in-1 vaccine to key U.N. organizations.
If LG can secure roughly 20 to 25 percent of the WHO’s total procurement quota, which is valued at around 400 billion won, it will be able to channel in around 100 billion won in steady revenue annually, the company said.
LG Life Sciences is planning to participate in the upcoming U.N. procurement bids that are announced sporadically and in varying degrees throughout the year. The nearest one is reportedly slated to open in the first quarter of 2016.
By Sohn Ji-young