Genewon Science Invests 12.5 Billion KRW in Facilities... "Expecting 25% Increase in Production Capacity"

Genewon Science.

[Asia Economy Reporter Lee Gwan-joo] Genewon Science, a contract development and manufacturing organization (CDMO) for synthetic pharmaceuticals, announced on the 5th that it will make a total investment of 12.5 billion KRW to expand pharmaceutical production capacity.

The company explained that this investment decision was made in consideration of the increasing and diversifying domestic and international demand for pharmaceuticals amid the ongoing COVID-19 pandemic and changing business environment. Following the 3.4 billion KRW facility investment executed this year, an additional investment of 9.23 billion KRW will be made to upgrade production capabilities.

Genewon plans to gradually expand production facilities and other process-related infrastructure at its Sejong and Jecheon sites by the first quarter of next year. Through this, it expects a production increase of more than 25% at the Sejong site and over 20% at the Jecheon site compared to current production volumes.

Lee Sam-su, CEO of Genewon, stated, “We have decided to make a large-scale investment in production facilities to ensure smooth supply amid the explosively increasing pharmaceutical demand in recent years. This major investment will serve as a solid foundation for us to advance as a leading CDMO.”