Isu Abxis Ships First Export of Abcertin to Algeria

[Asia Economy Reporter Hyungsoo Park] Isu Abxis has commenced the first shipment of its Gaucher disease treatment 'Abcertin' for export to Algeria.

In July, Isu Abxis secured a supply contract worth up to 14 billion KRW by winning the bid for Gaucher disease treatment at Algeria's Central Hospital Pharmacy Department (PCH), surpassing competing drugs.

The first export shipment corresponds to 4.7 billion KRW, which is 50% of the 9.3 billion KRW contract volume. Isu Abxis plans to supply the remaining quantity by the first quarter of next year.

Isu Abxis is also pursuing entry into advanced markets through a contract with Germany's HELM for its flagship product, Abcertin.

Son Youngsoo, head of the pharmaceutical division overseeing Isu Abxis' pharmaceutical business, stated, "If we achieve positive results in the ongoing Algeria Gaucher disease treatment bid, we expect Abcertin's sales to grow by about twice the current level," adding, "We also anticipate turning a profit next year."

Regarding progress following the contract with Germany's HELM, he explained, "Currently, both companies have formed an operations committee to carry out detailed practical work," and added, "In particular, to review and supplement FDA and EU GMP registration standards, we conducted mock inspections with the global consulting firm Parexel."