GC Green Cross MS Signs $30 Million Export Contract for Diagnostic Kits

[Asia Economy Reporter Cho Hyun-ui] GC Green Cross MS announced on the 17th that it has signed export orders for diagnostic kits worth a total of 30 million USD (approximately 36.3 billion KRW) to Europe, the Middle East, and Asia. This achievement was made just one month after receiving export approval for the diagnostic kits.

Including the 17.25 million USD (approximately 20.9 billion KRW) disclosed yesterday, GC Green Cross MS has received Letters of Assurance (LOA) and Supply Agreements (SA) totaling 30 million USD and will export diagnostic kits to more than 20 countries worldwide, including Russia, Singapore, the United Kingdom, and Brazil.

A GC Green Cross MS official stated, "The first shipment under the contract will begin within this month, and since additional orders are being discussed, exports in the second half of the year are expected to gain further momentum."

GC Green Cross MS has so far completed approval for two types of antibody diagnostic kits and one type of molecular diagnostic kit. The ‘GENEDIA’ series being exported this time includes both antibody and molecular diagnostic kits, which, when used together, can improve the timeliness and efficiency of testing. Additionally, it is characterized by providing customized solutions suitable for various medical environments, from advanced countries with established medical infrastructure to developing countries with relatively low medical accessibility.

GC Green Cross MS also plans to complete additional export approval next month for one type of POCT (Point-of-Care Testing) molecular diagnostic kit using equipment. Through this, they plan to establish a total of four types (two antibody diagnostic kits and two molecular diagnostic kits) of COVID-19 diagnostic kits, maximizing exports through both molecular and antibody diagnostics.

Ahn Eun-eok, CEO of GC Green Cross MS, said, “With the full-scale export of COVID-19 related diagnostic kits, we expect a significant contribution to this year’s sales and profits,” adding, “Based on an open innovation strategy, we also plan to strengthen the diagnostic business in the chronic disease field in the future.”

This content was produced with the assistance of AI translation services.