EV Suseong Discusses 'COVID-19 Prevention Drug' Sales with Chinese State-Owned Enterprises... Anticipating Demand as Vaccine Alternative

[Asia Economy Reporter Jang Hyowon] EV Suseong announced on the 16th that it is promoting the supply of ‘Kovixil’ nasal spray, which simultaneously prevents COVID-19 and the common cold, to state-owned enterprises in China.

According to EV Suseong, it is pursuing an exclusive supply contract for Kovixil with a Chinese state-owned pharmaceutical company and is in sales negotiations with a state-owned import-export specialized company.

A company official stated, “We recently met with representatives of Chinese state-owned enterprises to discuss specific plans for entering the local market,” and predicted, “People who cannot receive mRNA vaccines are likely to seek Kovixil.”

Currently, China is experiencing shortages of cold medicine and diagnostic kits due to the easing of COVID-19 prevention measures and panic buying. As soon as the authorities allowed retail sales of Pfizer’s COVID-19 treatment Paxlovid, it sold out within 30 minutes, causing a surge in demand for COVID-related pharmaceuticals.

The state-owned import-export specialized company has mainly imported Japanese pharmaceuticals but has been substituting with Korean pharmaceuticals since last year. The company explained, “Since the state-owned import-export company has already had experience selling out all Korean pharmaceuticals, we expect sales and marketing success for Kovixil.”

EV Suseong plans to start by entering overseas online purchasing sites and expand cooperation to offline sales in the future. Kovixil, produced in a facility certified by the U.S. FDA (Food and Drug Administration), has also received international medical device quality certification compliant with CE regulations and is expanding sales in Europe. Kovixil is currently sold in the UK, and after completing the expansion of its UK factory, plans to further expand sales in Europe.

Kovixil is the world’s first product approved by government agencies that simultaneously satisfies the preventive efficacy against COVID-19 and the common cold. Additionally, it has been verified to neutralize over 99% of various respiratory viruses including influenza. Kovixil was developed with research and development support from the U.S. National Cancer Institute (NCI) and has been officially introduced through platforms such as Nature (Springer Nature) and the World Health Organization (WHO)’s global open access platform ‘Global literature on coronavirus disease.’

Meanwhile, EV Suseong plans to officially enter the bio industry after changing its company name to Suseong Salbasionro through a shareholders’ meeting on the 27th.