Eli Lilly is preparing to establish a production base in South Korea for Mounjaro, its blockbuster weight-loss and diabetes treatment, according to reports that position the country as a new manufacturing hub for GLP-1 therapies.
Under an arrangement expected to be announced later this year, SK Biotek — a unit of SK Pharmteco, the contract manufacturing arm wholly owned by SK Inc. — would produce the active pharmaceutical ingredient for the tirzepatide-based drug. A separate partner is set to handle finished product manufacturing.
The move would make Korea the first country to domestically produce a GLP-1 obesity treatment, addressing persistent global supply constraints that have hampered Lilly’s ability to meet surging demand. Mounjaro generated $6.52 billion in revenue during the third quarter, up 109% from a year earlier.
SK Pharmteco is investing $260 million in a new 135,800-square-foot peptide and small-molecule facility in Sejong, scheduled to begin operations in late 2026. Industry sources estimate a five-year-plus contract could be worth ₩1 trillion to ₩2 trillion ($680 million to $1.36 billion).
Neither Eli Lilly nor SK Pharmteco has officially confirmed the partnership. An SK Pharmteco representative declined to comment on the speculation.
