South Korean giant's biotech arm to make $35M investment in Irish facility
SK Pharmteco, a CDMO and subsidiary of the second-largest conglomerate in South Korea, is investing $35 million to expand SK’s pharmaceutical manufacturing plant in the Dublin suburb of Swords, Ireland, including a new building.
According to SK, the expansion project will provide an increase in the site’s manufacturing capacity and capabilities, coming online sometime in 2024.
The first phase of the project will include a new manufacturing building, which will aim to increase reactor volume capacity. The new building will also contain filtration and drying equipment, associated utilities and the capability for additional manufacturing lines and technologies in future phases of the project.
The expansion will happen over two phases, with additional funding for subsequent phases. On completion, the expansion will result in an overall 50% increase in capacity at the Swords campus.
“With substantial growth in our business base, this expansion supports SK biotek Ireland’s position as a key contributor to SKPT’s EU and worldwide business,” said Joyce Fitzharris, president of SK biotek Ireland, in a statement. The new plant will be located on the footprint of a decommissioned production building on-site, within proximity to SK’s other site facilities.
This is the second major expansion project SK has embarked on. In 2020, the Swords Campus completed a $30 million reactor capacity expansion.
The campus has been around for 60 years as a small molecule API manufacturer, producing oncology and cardiology treatments.
Earlier this year, SK said it will invest $350 million into the Center for Breakthrough Medicines, with plans to add 2,000 employees as part of a redux at the CDMO’s King of Prussia, PA, facility.