L&K Biomed announced on September 8 that it recently held a strategic meeting between top executives to pursue a partnership with an overseas company. The two sides have begun concrete discussions on a new nationwide U.S. distribution strategy and co-marketing initiatives.
L&K Biomed has been working on plans to expand its overseas distribution network for about two years. This year, the company ramped up production capacity by increasing its workforce in the first quarter and completing facility expansion in the second quarter, resulting in an approximately 40% increase in production capability.
In the third quarter of this year, L&K Biomed completed U.S. FDA approval for 'BluEx-TM,' a co-marketing product with a global major company, ensuring thorough advance preparation. With preparations finalized, the company has begun to actively expand its presence in the U.S. market, and the implementation of the new distribution strategy is now imminent.
Alongside its existing distribution methods, the company is accelerating the restructuring of its distribution network based on customized product positioning for clients and strategic supply partnerships. The executive-level meeting is expected to serve as a key milestone in putting these plans into action.
To accelerate the execution of the new distribution strategy and strengthen global R&D competitiveness, L&K Biomed recently recruited a research director who has worked for many years at its U.S. subsidiaries, Aegis Meditech and L&K Spine. Beyond simply enhancing research and development capabilities, the company aims to secure local U.S. experts specialized for the market to implement the new distribution strategy. This is expected to expand localized R&D capabilities and increase responsiveness in the global market.
A company representative explained, "Our discussions on partnership with a global major company go beyond simple cooperation; we are continuously broadening practical touchpoints, including market deployment strategies and supply chain management." The representative added, "We have completed several stages of advance preparation to support these discussions and are making every effort to expand the partnership."
L&K Biomed is pursuing both diversification of distribution channels and optimization of supply across global markets, including the United States, Asia, Central and South America, and Europe. The company is also open to the possibility of announcing additional strategic partnerships.
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