SK Bioscience Co., a bio and pharmaceutical affiliate of South Korea's SK Group, said on Wednesday that The Indonesian Food and Drug Authority BPOM approved its cell culture-based quadrivalent influenza vaccine SKYCellflu.
The approval is the first homegrown developed influenza vaccine that was licensed in Indonesia, the world's fourth-most populous country with 280 million people.
According to the global market research firm InsightTen, Indonesia’s flu vaccine market is expected to grow from around $38.5 million in 2022 to $69.1 million (KRW 93 billion) by 2030.
According to SK Bioscience, SKYCellflu has a shorter manufacturing period than traditional egg-based vaccines and is safer for people with egg allergies.
The company explained that its flu vaccine lowers the risk of virus mutations during manufacturing, resulting in a higher match between the vaccine and circulating virus strains.
The vaccine has already been approved in several Asian countries including Malaysia, Thailand, Myanmar, and Iran, as well as in Chile last year.