South Korean pharmaceutical company Boryung Pharmaceutical announced on April 23 that it has established a new production facility in Yesan, South Chungcheong Province.
The new site in Yesan, which started construction in March 2017, spans around 145,097 square meters. Boryung Pharmaceutical has injected around 160 billion won ($140.12 million) to establish the facility.
According to the company, it decided to establish the site in Yesan to assist its expansion overseas.
“In our new Yesan production site, we hope to produce Kanarb family lines, cancer treatments and other new drugs for patients throughout the world,” Boryung Pharmaceutical CEO Ahn Jae-hyun said in a statement.
Kanarb family lines, which include Boryung Pharmaceutical’s flagship anti-hypertension drug Kanarb, refer to the company’s new drugs and complexes that include substances used for treating hyper blood pressure and hyperlipidemia.
Boryung Pharmaceutical expects demand to surge soon, as the company has signed a license-out deal for the Kanarb family with partners in 51 different countries, including Mexico, Russia, and Southeast Asia, and gained sales approval in 18 countries.
It projects the Kanarb family’s sales to reach over 200 billion won this year.
Kanarb, which the company injected around 50 billion won over the course of 12 years to develop, obtained a domestic marketing license in 2010 as the 15th novel drug here.
By Song Seung-hyun (email@example.com)