ST Pharm, the active pharmaceutical ingredient subsidiary of Dong-A Socio Holdings, said on the 23rd it signed a $56 million (about 82.5 billion won) supply contract for active pharmaceutical ingredients for an oligonucleotide therapy with a U.S.-based global biotech.
The contract will be used for a global new drug for severe hypertriglyceridemia that is nearing commercialization. The client and product name were not disclosed under a confidentiality clause. The contract period runs from the 22nd of this month to Dec. 18.
The contract amount is about 30% of ST Pharm's 2024 sales on a consolidation basis of 273.7 billion won. The order backlog increased about 30% compared with the third quarter of last year.
The oligonucleotide therapy contract development and manufacturing (CDMO) market is growing rapidly as global pharmaceutical and biotechnology corporations expand research and development and as late-stage clinical and commercialization projects increase.
ST Pharm built a second dedicated oligo production facility last year and has been responding to rising demand as it went into full operation in the second half.
The company said it has secured process stability capable of delivering consistent quality from the clinical stage to commercial production, and it has established a production system that minimizes impurities. It said it is strengthening competitiveness through an integrated platform that spans technology, regulatory response, and supply chain management.
A ST Pharm official said, "We provide services tailored to client needs from the early development stage through process and analytics to change approvals," adding, "We will focus on the stable supply of oligonucleotide therapy ingredients."