GC Green Cross Obtains FDA Approval for U.S. Plasma Centers, Expects Stable Sales Growth

Two Additional Centers to Be Operated in Texas by 2027

GC Green Cross announced on May 14 that the Calexico Plasma Center, operated by its U.S. subsidiary ABO Holdings in California, has received approval from the U.S. Food and Drug Administration (FDA).

Exterior view of GC Green Cross headquarters located in Giheung-gu, Yongin-si, Gyeonggi-do. GC Green Cross

After successfully launching Alyglo in the U.S. market, GC Green Cross acquired ABO Holdings in January this year to achieve mid- to long-term sales growth. With this approval, all six plasma centers operated by ABO Holdings in the United States have now received FDA approval.

ABO Holdings plans to expand by adding two more centers in Texas by 2027, bringing the total number of plasma centers it operates to eight. In the United States, FDA approval is essential to ensure the safety and quality of plasma collected at plasma centers. Once approved, plasma centers are qualified to sell the plasma they collect.

The supply of source plasma is known to be a critical factor in the plasma fractionation business. All global plasma fractionation companies, including CSL Behring of Australia, Takeda of Japan, Grifols of Spain, and Octapharma of Switzerland, own their own plasma centers in the United States.

With this approval, ABO Holdings will generate revenue from its six plasma centers located in California, Utah, and New Jersey.

Heo Euncheol, CEO of GC Green Cross, stated, "We will continue to secure stable Alyglo sales through our plasma centers operating in the United States," adding, "This will also greatly contribute to improving the company's profitability."