'Ilyang Pharmaceutical Confident in Flu Vaccine Business After NIP Bid Success'

Ilyang Pharmaceutical recently announced on the 16th that its influenza (flu) vaccine has been awarded a contract under the National Immunization Program (NIP). Accordingly, the company plans to proceed with confidence in its flu vaccine business.

Recently, the Korea Disease Control and Prevention Agency conducted a '2023-2024 influenza vaccine procurement bid' through the national e-procurement system, awarding supply contracts to a total of six companies, including Ilyang Pharmaceutical. Ilyang Pharmaceutical will supply a total of 1.7 million doses at the lowest unit price of 10,100 KRW.

The flu vaccine market is divided between the public procurement market and the private market, leading to increasingly intense competition. As the market volume for preventive medicine is expected to expand in the future, the outlook for vaccine manufacturers is positive. Ilyang Pharmaceutical stated, "Based on the efficacy, effectiveness, and high safety of our flu vaccine, we plan to increase vaccine factory operations and productivity to meet domestic vaccine demand," adding, "We will also conduct aggressive marketing to expand exports of flu vaccines to both the Northern and Southern Hemispheres."

Currently, Ilyang Pharmaceutical operates a vaccine factory equipped with the latest production facilities in Eumseong-gun, Chungbuk Province, producing influenza vaccines using embryonated egg culture methods. Through this, they are selling the quadrivalent influenza vaccine 'Teratect' for adults, children, and adolescents.