GC Green Cross Flu Vaccine Expands to Africa... Obtains Product Approval in Egypt

4-Strain Flu Vaccine 'GC Flu Quadrivalent'
Expansion from Southeast Asia and Latin America to Africa and the Middle East
"Simultaneous Targeting of International Procurement and Private Markets"

GC Green Cross announced on the 19th that its quadrivalent influenza vaccine, 'GCFLU Quadrivalent Pre-filled syringe inj.', has received pharmaceutical product approval from the Egyptian Drug Authority (EDA). This is the first time GC Green Cross's quadrivalent influenza vaccine has been approved in the African continent.

GC Flu Quadrivalent Prefilled Syringe. [Photo by GC녹십자]

The influenza vaccine market size in Egypt reached approximately 45 million USD (about 57 billion KRW) as of 2022. The company explained that Egypt is considered one of the countries with the largest pharmaceutical markets in the African region.

Based on this product approval in Egypt, the company plans to further expand its global footprint from the existing Southeast Asia and Latin America-focused influenza vaccine markets to Africa and the Middle East regions. Additionally, leveraging its established position in the international organization procurement market, GC Green Cross intends to actively enter private markets in individual countries.

The influenza vaccine market is divided into the international organization procurement market and the private market where pharmaceutical products are supplied after obtaining product approval in each country. The international procurement market has the advantage of enabling large-scale supply through the National Immunization Program (NIP) market. The private market, where supply prices are determined according to each country's market environment, is known to have a relative advantage in terms of profitability.

A GC Green Cross official stated, "The trend of switching to quadrivalent influenza vaccines is expanding not only in the international organization procurement market but also in individual overseas countries. By targeting both the international organization procurement market and private markets in individual countries simultaneously, we will create synergy to increase sales and improve profitability."

Heo Eun-cheol, CEO of GC Green Cross, said, "We will continuously increase our global market share based on our excellent vaccine technology and manufacturing capabilities developed over half a century of producing and supplying vaccines."

Meanwhile, GC Green Cross is the largest seasonal influenza vaccine supplier for the Pan American Health Organization (PAHO) under the World Health Organization (WHO) and UNICEF. Through this, it supplies influenza vaccines to 63 countries worldwide. Excluding international organizations, Egypt is the 24th country the company has entered. The cumulative production volume of influenza vaccines has recently exceeded 300 million doses.

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