Asan Pharmaceutical Accelerates Entry into US COVID-19 Test Kit Market

GNS USA INC and Busan Venture Partners Sign Strategic MOU
Accelerating FDA Emergency Use Authorization and Amazon Sales Preparation

[Asia Economy Reporter Lee Gwan-joo] Asan Pharmaceutical, a company specializing in in vitro diagnostics, is accelerating its full-scale entry into the U.S. market. Given the ongoing COVID-19 pandemic in the U.S., the company plans to expand exports focusing on antigen kits.

According to the pharmaceutical and bio industry on the 3rd, Asan Pharmaceutical recently signed a strategic business agreement for U.S. market entry with GNS USA INC, based in Virginia, USA, and Busan Venture Partners (BVP).

GNS USA INC, which Asan Pharmaceutical partnered with, is a U.S. IT company and currently an Amazon brand seller. Previously, it successfully launched Korea's KF94 masks as a U.S. brand, ranking 4th among best sellers in January, helping to promote the performance of Korean masks worldwide.

Since early this year, the U.S. has been distributing antigen home kits free of charge to households and is known to be implementing federal budgets and policies to ensure stable supply. Considering the U.S. population, hundreds of millions of kits are needed, so demand is expected to continue.

Through this agreement, Asan Pharmaceutical plans to collaborate with GNS USA INC to accelerate obtaining the U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA) and local supply. Preparations for approval to sell Asan Pharmaceutical’s antigen home kits on Amazon are also complete. Additionally, Busan Venture Partners will establish a PEF with Asan Pharmaceutical to smoothly support investment for local market entry in the U.S.

Hwang Jun-ho, director of Asan Pharmaceutical, said, "We signed a strategic business agreement with GNS USA INC to enter the U.S. market more quickly," adding, "We will be able to secure the best conditions for rapid EUA approval and local supply in the U.S."

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