"Expanding Overseas Exports of Finished Pharmaceuticals
to Southeast Asia, Central and South America, and Mongolia"
Yuhan Corporation announced on October 17 that exports of its antacid 'Almagel' to Vietnam have surpassed 10 billion KRW (approximately 100 billion KRW).
Almagel, which received official approval in Korea in August 1984, is a medication designed to be consumed directly when experiencing heartburn or stomach pain. Its main ingredient, 'almagate,' neutralizes gastric acid and protects the stomach lining. After successfully entering the Vietnamese market for the first time in 2008, Almagel achieved export sales exceeding 10 billion KRW (100 billion KRW) last year. It currently maintains its leading position in the Vietnamese antacid market and continues to grow steadily this year.
Yuhan Corporation's overseas business is largely divided into two segments: the CDMO (Contract Development and Manufacturing Organization) business based on active pharmaceutical ingredients, and the export of finished pharmaceutical products. Following sales of 306.5 billion KRW last year, the company has already recorded sales exceeding 200 billion KRW in the first half of this year, continuing its rapid growth. Yumangel (the Vietnamese product name for Almagel), the main export product among finished pharmaceuticals, has successfully established itself in the Vietnamese market. As a result, the company plans to pursue a strategy of diversifying both export products and export markets in the future.
To expand exports of finished pharmaceuticals, Yuhan Corporation is actively participating in various global exhibitions and export consultation events, strengthening connections with existing clients while continuously identifying new business partners. In addition, the company is focusing its business development efforts by selecting key countries and strategic products for each region, and plans to pioneer new markets through initiatives such as the Korea Trade-Investment Promotion Agency (KOTRA) branch office program.
A representative from Yuhan Corporation stated, "We are currently expanding our export structure, which has been concentrated in Southeast Asia, to include Central and South America, the Commonwealth of Independent States (CIS), and Mongolia. In addition to finished pharmaceuticals, we also plan to actively expand exports of non-pharmaceutical products such as probiotics, health functional foods, and household goods."
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