Pioneering Overseas Markets and Diversifying Product Lines
Organic Collaboration Among Group Affiliates
This year marks the 60th anniversary of Huons Group, and the company is accelerating its efforts to become a global healthcare enterprise. Building on its broad healthcare business portfolio, Huons Group aims to enhance its global competitiveness through an organic collaboration system among its affiliates.
According to industry sources on the 25th, Huons is focusing on expanding into the U.S. market with its core injectable products. In May, the company obtained Abbreviated New Drug Application (ANDA) approvals from the U.S. Food and Drug Administration (FDA) for two types of local anesthetics, bringing the total number of injectable products it can sell in the United States to seven. Previously, Huons had secured approvals for five products: 1% saline injection, 0.75% lidocaine hydrochloride injection (5ml ampoule), 1% bupivacaine hydrochloride injection (2ml ampoule), 2% lidocaine hydrochloride injection (5ml vial), and 5ml lidocaine injection.
Along with additional product approvals, Huons plans to ramp up operations at the new injectable production line at its second plant in Jecheon, North Chungcheong Province, focusing on expanding exports to North America. Based on its consolidated financial statements for the third quarter, Huons recorded sales of 153.7 billion won, operating profit of 9.9 billion won, and net profit of 8.2 billion won, representing year-on-year increases of 4.7%, 13.7%, and 13.3%, respectively. The growth in sales was primarily driven by specialty pharmaceuticals, including anesthetics, and the contract manufacturing (CMO) segment.
Huons Medics, the group's aesthetics-focused affiliate, is achieving remarkable results in overseas markets with its flagship products such as hyaluronic acid (HA) fillers. In December 2021, Huons Medics established a dedicated overseas business division and began its full-scale global expansion. The company has since expanded exports to 19 countries, including China and Brazil. It is also actively hosting networking events by inviting overseas partners and medical professionals to Korea. In October, Huons Medics held a communication session with employees from its Brazilian partner Innova and local Brazilian medical professionals. On November 6, the company invited key Russian medical professionals to host the "Elravie Russia Academy."
Pangen, the group's biopharmaceutical affiliate, is selling its erythropoietin (EPO) biosimilar products in six countries: Korea, Malaysia, the Philippines, Saudi Arabia, T?rkiye, and Thailand. The company is also working to expand exports, particularly in the Middle East and Africa. As of the third quarter of this year, cumulative exports of EPO products reached 5.7 billion won, an increase of approximately 90% compared to the same period last year.
Huons Meditech, the group's medical device affiliate, is also pioneering overseas markets by participating in international exhibitions. In particular, the "Dermashine" series of electronic drug infusion devices is making significant inroads abroad. In June, the company launched the "Dermashine Pro" electronic drug infusion pump in Australia. In August, both Dermashine Pro and Dermashine Balance became the first electronic drug infusion pumps to receive CE-MDR certification for medical devices in Europe. Based on this CE-MDR certification, Huons Meditech plans to actively enter the European market.
Huons Group is actively leveraging synergies through collaboration among its affiliates. In particular, the company is expanding partnerships centered on its U.S. subsidiary, Huons USA, while also promoting key products at major global pharmaceutical exhibitions. In May, at the "CPHI America" pharmaceutical exhibition in the United States, Huons USA, Huons, Huons Lab, and Pangen jointly operated a booth.
With Huons expanding its presence in the U.S. market, the role of HuM&C, a company specializing in pharmaceutical and cosmetic ampoules and vials, is also drawing attention. HuM&C has completed U.S. FDA Drug Master File (DMF) registrations for ampoule and vial products related to the seven local anesthetic products approved by Huons in the United States. As Huons' U.S. sales grow, the sales volume of ampoule and vial containers is also expected to increase steadily.
Song Sooyoung, CEO of Huons Global, stated, "Huons Group has contributed to the growth of the domestic healthcare industry and achieved continuous growth every year over the past 60 years," adding, "We will continue to pursue sustainable growth and make the leap to become a global healthcare company."
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