SK Holdings to acquire full ownership interests in CDMO

Investment-type holding company of SK Group, SK Holdings, has come to an arrangement where it will acquire 100% of the ownership interests in AMPAC Fine Chemicals (AFC) — a contract development and manufacturing organisation (CDMO).

AFC is a global supplier of active pharmaceutical ingredients (APIs) and intermediates that are used in medical indications such as cancer, CNS, cardiovascular and antiviral. Locations include facilities on the west, east and south coasts of the US, the company provides services to numerous pharma and biotech companies throughout the entire lifecycle of their products.

“Pharmaceuticals is one of SK Holdings’ key pillars of growth and the acquisition of AFC is an important step towards becoming a global player in the market,” said Donghyun Jang, president and chief executive officer of SK Holdings. “AFC's development and manufacturing capabilities and outstanding regulatory track record, evidenced by the fact that the California plant is utilized by the FDA as a training site, are an excellent complement to SK.”

Aslam Malik, chief executive officer of AFC, added: “We are excited to join SK Holdings. SK and AFC are highly complementary and together we will be able to offer our customers a much broader portfolio of offerings including a global supply chain. Together we will achieve SK's goal of becoming a global top-tier CDMO.”