April 26, 2024

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[THE INVESTOR] Green Cross Biotherapeutics, a subsidiary of Green Cross, said on Nov. 1 it has completed constructing its US$200 million biopharmaceutical plant in Canada that will form the crux of its expansion in North America.

Capable of producing 1 million liters of plasma protein products, the plant will be fully operational by 2020, after gaining regulatory approvals and completing pilot runs. It will also bring Green Cross’ total production capacity for plasma protein products to 2.7 million liters, making it one of the world’s top five. 

North America currently accounts for nearly half of the world’s plasma protein product markets worth around 25 trillion won (US$22.32 billion).

“We expect to gain a competitive edge with the Quebec site, which is the only facility devoted to blood derivative products in Canada,” said Green Cross Biotherapeutics CEO Kim Young-ho.

In line with the construction efforts, Green Cross is expanding the number of blood donation centers in the US. It aims to establish 30 blood donation centers in the country by 2020 in order to secure 1 million liters of plasma annually.

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