Pamisel, Second Factory Completion Ceremony... "Will Strengthen Position in Overseas Markets"

[Asia Economy Reporter Hyungsoo Park] Pharmicell is expanding the production of pharmaceutical raw materials and strengthening its presence in overseas markets.

Pharmicell announced on the 25th that it established a second factory in the Onsan Industrial Complex in Ulsan and held a completion ceremony on the 22nd. About 100 Pharmicell executives and employees, including CEO Kim Hyunsoo, attended the ceremony. A total of 12.5 billion KRW was invested in the second factory.

Pharmicell built its first factory in 2018 and now has a second factory after four years. The need for expansion grew as demand for pharmaceutical raw materials increased. The demand for nucleosides, used as raw materials for mRNA vaccines, molecular diagnostics, and RNA therapeutics, surged. Sales in the chemical business division, including nucleosides, recorded 27.9 billion KRW in 2019, 35.4 billion KRW in 2020, and 49.8 billion KRW in 2021.

Pharmicell CEO Kim Hyunsoo said at the completion ceremony, "Along with the completion of the second factory, we have also completed the purchase of the site for the third factory," adding, "We will expand production capacity to stably supply pharmaceutical raw materials and lead the global market."

A Pharmicell official explained, "We currently have production plans for the second factory," and added, "The annual production volume of nucleosides will increase more than twofold from the existing 13 tons to 27 tons." He continued, "Demand for RNA-based nucleosides, which have relatively higher unit prices, is increasing," and added, "We expect sales to grow."