April 19, 2024
Bio
Medipost’s stem cell-based drug sales hit record high in Q4
[THE INVESTOR] The sales of Medipost's stem cell-based treatment of damaged cartilage in South Korea have hit a record high in the fourth quarter, the company said on Jan. 2.
A total of 500 vials of Cartistem has been sold here in the September-December period, up 42.8 percent from 350 vials a year earlier, according to the biotech firm.
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The sale of the drug, which won approval for sales from the Korea Food and Drug Administration in 2012, has been growing at 40 percent over the past four years.
“The 5-year follow-up clinical trials which were completed recently confirmed the efficacy and long-term safety of Cartistem,” an official at Medipost said.
Cartistem is a stem cell drug based on mesenchymal stem cells derived from allogeneic umbilical cord blood.
By Park Han-na (hnpark@heraldcorp.com)
