Green Cross Supplies Blood Products Worth 120 Billion KRW to Brazil

GC Green Cross announced on the 3rd that it signed a supply contract for the immunoglobulin blood product ‘IVIG-SN 5%’ with its local Brazilian partner, Blau Farmaceutica, on the 30th of last month.

At the supply contract signing ceremony for the immunoglobulin blood product 'IVIG-SN 5%' held on the 30th of last month, Huh Eun-cheol, CEO of GC Green Cross (left), and Marcelo Hahn, CEO of Blau Pharmaceutica, are taking a commemorative photo.
[Photo by GC Green Cross]

Through this contract, GC Green Cross will supply products worth 90.48 million USD (approximately 119.4 billion KRW) to Brazil. The contract period is a total of 5 years, until June 29, 2028. The contract amount of 90.48 million USD is a preliminary estimate for supplies until 2025, and the supply volume from 2026 until the end of the contract is yet to be determined. A Green Cross official explained, "We plan to disclose the finalized details when a revised contract is signed in the future."

GC Green Cross’s flagship blood product, IVIG-SN, is a pharmaceutical used for various purposes such as congenital immunodeficiency and immune thrombocytopenia. The export blood products are manufactured at GC Green Cross’s dedicated export blood product production facility located in Ochang-eup, Cheongju-si, Chungbuk, using plasma from the United States.

Brazil is considered the largest blood product market in South America. As of last year, the immunoglobulin market size reached approximately 270 million USD (about 353.3 billion KRW). Since 2015, GC Green Cross has been supplying blood products to the Brazilian government’s pharmaceutical tenders and the private market. Additionally, it currently exports 12 blood product items, including albumin, to 32 countries worldwide such as Argentina, Uruguay, and Vietnam.

Huh Eun-cheol, CEO of GC Green Cross, said, “We will increase our global market share of blood products based on our company’s excellent product capabilities recognized worldwide.”

Meanwhile, GC Green Cross is also accelerating its entry into the U.S. market with IVIG-SN 10%. Although there was a possibility of approval from the U.S. Food and Drug Administration (FDA) last year, an on-site inspection of the Ochang plant could not be conducted due to the impact of the COVID-19 pandemic, resulting in a Complete Response Letter (CRL) in February last year. However, the Ochang plant inspection was conducted in April, and based on this, the company is preparing to submit a Biologics License Application (BLA) to the U.S. FDA within this month.

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