[Public Notice+] Pharmicell Secures Nucleoside Order from China... "Worth $400,000"

[Asia Economy Reporter Hyunseok Yoo] Pharmicell announced on the 29th that it has received an order for nucleosides worth approximately $400,000 (about 500 million KRW) from Hongene Biotech Corporation in China.

Hongene is a major supplier in the nucleoside market within China. It is reported that due to the increased demand caused by the novel coronavirus disease (COVID-19), they requested product supply from Pharmicell, which has secured stable production capacity.

A company representative explained, “Currently, the nucleoside sales volume from existing customers alone has already far exceeded last year’s revenue. With the increased demand for COVID-19 diagnostic kits and the market growth of nucleic acid therapeutics using RNA, continuous orders are expected in the future. Therefore, we are also preparing to expand our Ulsan factory to meet the demand.”

Meanwhile, nucleosides are the building blocks of nucleic acids and serve as the main raw materials for various virus diagnostic kits, infectious disease diagnostic reagents, and new gene therapy drugs. Pharmicell’s major customers, Thermo Fisher and Merck, reprocess the nucleosides supplied by Pharmicell and supply them to global major pharmaceutical companies such as Qiagen and Roche. These large pharmaceutical companies then further process them into gene therapies and diagnostic kits for use.