Focus on New Product Development
Accelerating Global Business Expansion
Huons announced on the 26th that it signed a strategic raw material supply business agreement (MOU) with MFC for the development of new pharmaceuticals at the Huons Group headquarters in Pangyo, Seongnam-si, Gyeonggi-do on the 25th.
Yoon Sang-bae, CEO of Huons, and Hwang Seong-gwan, CEO of MFC (third from the left), are posing for a commemorative photo at the signing ceremony of the memorandum of understanding for the supply of newly developed raw materials between Huons and MFC, held on the 25th at the Huons Group headquarters in Pangyo, Seongnam. [Photo by Huons]
Through this agreement, Huons plans to focus on developing new products by receiving raw materials for pharmaceuticals produced by MFC, including ▲Ilaprazole ▲Gemigliptin ▲Varenicline ▲Sacubitril Valsartan. Additionally, Huons aims to accelerate the development of improved new drugs and expand its global business by localizing raw materials and enhancing the efficiency of product mass production.
Yoon Sang-bae, CEO of Huons, stated, “We have been able to reduce dependence on overseas raw materials and prioritize new product development by securing higher quality raw materials. Based on this agreement, we have laid the foundation to jointly conduct research activities on various products.”
Hwang Seong-kwan, CEO of MFC, also said, “We will promote win-win cooperation to supply high-quality products, proactively develop products that benefit both companies, and accelerate the expansion of GMP (Good Manufacturing Practice) production facilities. By securing a stable sales channel for raw materials of newly developed items, we will enhance management stability and transform into a technology-intensive company.”
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