November 27, 2024

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From left: Kim Yoon-ho, SK Chemical’s pharmaceutical unit CEO; Ahn Jae-hyun, SK Chemical CEO; Chey Chang-won, SK Discovery vice chairman; Leon Wang, executive vice president of AstraZeneca’s international business; Sylvia Varela, vice president of AstraZeneca’s Asia business; Ankush Nandra, chief financial officer of AstraZeneca’s international business; and Kim Sang-pyo, country president of AstraZeneca Korea pose for a picture at a partnership ceremony held in Pangyo, Gyeonggi Province, Monday. (SK Chemical)

SK Chemical said Monday it has begun commercial production of a new diabetes treatment drug co-developed with AstraZeneca.

Under their partnership, SK Chemical will be responsible for production of the diabetes treatment drug that will be supplied here and overseas countries in the future, SK Chemical added.

“(SK Chemical’s new diabetes treatment drug) has shown the company’s capability in developing and producing medical products. (The new treatment) is expected to help SK Chemical increase global supply of its medical product,” SK Discovery Vice Chairman Chey Chang-won said, during a ceremony held in Pangyo, Gyeonggi Province, Monday.

The new diabetes treatment drug has been developed under an agreement signed in 2020 between SK Chemical and AstraZeneca. Under the agreement, AstraZeneca has provided SK Chemical with research and development costs and pharmaceutical ingredients used in the company’s diabetes treatment dapagliflozin, sold under the brand name Forxiga.

The company’s new diabetes treatment drug also uses pharmaceutical ingredients used in MSD’s diabetes treatment Januvia, or sitagliptin, the company added.

According to SK Chemical, the company is currently producing the new diabetes treatment at the company’s manufacturing site in Cheongju, North Chungcheong Province, while waiting for the South Korean Ministry of Food and Drug Safety's approval for the treatment.

Leon Wang, executive vice president of AstraZeneca’s international business, also noted AstraZeneca and SK Chemical will increase cooperation to introduce more medical solutions and treatments.

By Shim Woo-hyun (ws@heraldcorp.com)