Medicox to Develop Integrated Pharmaceutical and Bio Logistics Infrastructure on 50,000 Pyeong in Pyeongtaek City

[Asia Economy Reporter Jang Hyowon] MedicoX, a KOSDAQ-listed company, is diversifying its pharmaceutical and bio business by establishing an integrated logistics hub infrastructure encompassing storage, logistics, and distribution of pharmaceuticals and raw materials, including COVID-19 vaccines.

On the 27th, MedicoX announced that it signed a tripartite Memorandum of Understanding (MOU) with BioSupport, a GMP consulting specialist company, and B&B Company, a project developer, to build a large-scale logistics center on a site of approximately 10,500 pyeong in Pyeongtaek City that complies with the global Good Distribution Practice (GDP) certification standards for excellent pharmaceutical distribution and quality management.

Signing ceremony of the MOU for the establishment of a smart pharmaceutical bio GDP logistics block hub among BioSupport, Medicox, and BNB Company. From the left, Kyungmin Kim, CEO of BioSupport; Jin Kang, CEO of Medicox; Deokhwan Kim, CEO of BNB Company.

Starting from this MOU signing, MedicoX plans to pursue permits for a total of 50,000 pyeong with a floor area ratio of 400% on the site, aiming to build the largest logistics center in Korea and ultimately obtain global GDP certification to claim the title of the 'first GDP logistics center in Korea.' In this project, MedicoX will act as a strategic investor (SI) responsible for funding and key personnel composition for the logistics center construction project, BioSupport will handle technical and operational consulting, and B&B Company will be responsible for obtaining permits.

The three companies will introduce a GDP-based digital logistics and distribution solution to strictly apply quality management of advanced pharmaceutical storage, distribution, and logistics processes from the perspective of pharmaceutical and patient safety. They plan to cooperate diversely to build infrastructure across the industry, from smart last-mile delivery systems based on advanced automation.

A MedicoX official stated, "Last month, we signed an MOU with a pharmaceutical distributor to expand the pharmaceutical and bio distribution network, and we are developing various businesses centered on the bio integrated block hub business." He added, "As the domestic pharmaceutical and bio industry is rapidly emerging worldwide, focusing on manufacturing and production capabilities of pharmaceuticals including vaccines, demand for logistics hubs that meet international standards based on verified pharmaceutical and raw material supply chain systems is expected to continuously increase."

The company plans to secure leading and differentiated competitiveness in the integrated pharmaceutical and bio business sector encompassing storage, logistics, and distribution through the large-scale logistics hub infrastructure to be established in Pyeongtaek City. It also intends to actively develop its business in cooperation with the government, local governments, and the private sector to enhance the status of K-Bio.

BioSupport, partnering with MedicoX in building the logistics hub infrastructure, was established in 2000 and specializes in GMP consulting, pharmaceutical quality system consulting, validation execution, and GMP factory design, which are standards for excellent pharmaceutical manufacturing and quality management. It has consulting achievements in various fields including chemical pharmaceuticals, biopharmaceuticals, advanced biopharmaceuticals, medical devices, veterinary pharmaceuticals, health functional foods, and cosmetics. It has conducted about 900 consultations related to new construction and expansion of domestic pharmaceutical factories, among which about 330 are pharmaceutical and bio companies.