SK bioscience will invest 2.4 trillion won ($1.8 billion) over five years to strengthen its vaccine and contract development and manufacturing organization (CDMO) businesses, including two possible mergers and acquisitions (M&As).

"The next five years are the time for SK bioscience to make aggressive investments that will determine our future," SK bioscience CEO Ahn Jae-yong said during a press conference in central Seoul on Friday.

"We´re eyeing an M&A in the vaccine area, and one in the cell and gene therapy sector."