Medicox Starts Selling Ophthalmic Medical Devices... "50 Billion KRW Sales Target This Year"

[Asia Economy Reporter Jang Hyowon] MedicoX, a KOSDAQ-listed company, has diversified its profit business based on its pharmaceutical and bio distribution network. MedicoX announced on the 24th that it has officially started selling the ophthalmic medical device ‘ABS Nupoint Plug’.

The ‘ABS Nupoint Plug’ sold by MedicoX is a product manufactured by UMI Optics, a specialized ophthalmic medical device manufacturer, through an OEM (original equipment manufacturing) method. The ‘ABS Nupoint Plug’ is a medical device inserted into the punctum to prevent tear leakage. It works by blocking the tear duct to keep tears longer, making it an excellent product for treating dry eye syndrome.

MedicoX stated that it has received a supply of 200,000 units of the ophthalmic medical device ‘ABS Nupoint Plug’ from UMI Optics and has begun full-scale delivery to domestic ophthalmology hospitals. The company plans to leverage its extensive pharmaceutical and bio business network to continuously expand its pharmaceutical and medical device distribution business, starting with the supply of the ‘ABS Nupoint Plug’.

Oh Daehwan, CEO of MedicoX, said, “The extensive bio business network that MedicoX has secured so far, combined with competitive product lines, can serve as a foundation for diversifying profit businesses. The ophthalmic medical device product that has started sales this time is expected to generate sales of 5 billion KRW this year and over 10 billion KRW next year, making it a highly marketable business sector that we plan to continue growing.”

UMI Optics, which supplied the ophthalmic medical device ‘ABS Nupoint Plug’ to MedicoX, is a venture company specializing in ophthalmic medical device manufacturing. Based on upgraded development technologies for essential ophthalmic hospital equipment such as fundus cameras and slit-lamp microscopes, it has built recognition in domestic and international hospitals. In 2015, it completed a cleanroom with a cleanliness level of 10,000 class in Korea and began direct production of ophthalmic treatment materials such as nupoint plugs and Schirmer strips.