Samchundang Pharmaceutical, Export of Multi-use Prescription Eye Drops to the US

Samchundang Pharmaceutical announced on the 13th that on the 10th of this month, it held a ceremony to commemorate the first export of its reusable generic eye drops to the USA at its cGMP-certified Hyangnam factory located in Hwaseong, Gyeonggi Province, with employees in attendance.

The shipped product is a reusable glaucoma eye drop developed independently by Samchundang Pharmaceutical and directly manufactured at the Hyangnam factory, which has received US cGMP certification. This product sells over 400 billion KRW annually in the United States. It was found that Samchundang Pharmaceutical receives 70% of the net profit from its partner company every quarter through sales of this product.

Samchundang Pharmaceutical has signed profit-sharing supply contracts with partners for 14 generic eye drop items in the US, receiving 50-70% of the product sales profits. The approval process for these items is currently underway.

A representative from Samchundang Pharmaceutical stated, “This product was shipped after six batches were ordered even before obtaining approval,” adding, “Additional orders were received a month ago and production is ongoing, and the first order quantity of the second product has also been completed and is awaiting shipment.”

They continued, “At least three generic eye drop items are expected to be exported to the US this year, and as the number of items increases next year, export volume is also expected to grow significantly, greatly improving profitability. This export marks another confirmation of Samchundang Pharmaceutical’s technological capabilities and its commitment to entering the global market. Starting with this, we will launch more products in advanced markets and leap forward as a global pharmaceutical company.”