BRIEF—SK Group acquires AFC in bid for US CDMO market share

An investment vehicle of South Korea’s SK Group has inked a deal to acquire API developer AMPAC Fine Chemicals (AFC), providing SK with a strategic foothold in the key US contract development and manufacturing organization (CDMO) market.

AFC has facilities on the west, east and south coasts of the United States, providing services to a large number of pharma and biotech companies throughout the entire life cycle of their products.

SK Holdings chief executive Donghyun Jang said, "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."

He added, "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."