SK bioscience has completed its acquisition of a controlling stake in Germany’s IDT Biologika, a leading contract development manufacturing organization (CDMO) in the global vaccine industry. The deal, originally announced in June 2024, was finalized through an agreement with Klocke Group, which will retain a 40% stake in IDT and acquire a 1.9% stake in SK bioscience for approximately KRW 76 billion (USD 56.7 million).
SK bioscience aims to double IDT Biologika’s annual sales by 2028, while improving the company’s EBITDA to 25% of its revenue. The acquisition is expected to accelerate SK’s growth, targeting KRW 1 trillion (USD 757.6 million) in consolidated sales within three years, partly through leveraging IDT’s advanced production lines and expertise in high-growth sectors like cell and gene therapy (CGT) and recombinant vaccines.
With a focus on improving operational efficiency and expanding its contract manufacturing partnerships, SK bioscience plans to maximize the utilization of IDT’s facilities and pursue new CDMO contracts, setting the stage for future growth in both companies’ vaccine and biopharmaceutical portfolios.
