April 20, 2024

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[THE INVESTOR] Hanmi Pharmaceutical said on Aug. 31 it will commence overseas operations of its medication management automation affiliate JVM from September.

“As JVM is ready for mass production, we will aggressively launch overseas business in the US and Europe using its network,” the drug maker said in a press release. 

Hanmi Science, holding company of the pharmaceutical firm, acquired a 30 percent stake in JVM for 129.1 billion won (US$114.7 million) in June last year.

With the merger agreement, Hanmi has been in charge of sales while JVM has focused on production and development.

JVM, which logged sales of 98.1 billion won in 2016, is among the world’s top four firms in the automated pharma management business, with over 200 patented technologies. The company produces an automatic medication inspection system and tablet packaging system which provides accurate drug administration and real-time track and traceability.

By Park Han-na (hnpark@heraldcorp.com)