The sales in Central and South American markets largely contributed to the total revenue due to its prices higher than those in the domestic market. Green Cross is highly likely to advance into North American markets.
On February 4, Green Cross (Green Cross Corp., http://www.greencross.com) announced that it has obtained the order of IVIG-SN (IV Globulin S), immunoglobulin worth $5.72 million in the Brazil’s governmental bidding.
This amount of order was increased 33 percent up from its last order of $4.30 million in 2013 on the then governmental bidding. The order volume accounts 24 percent of the total volume subject to the Brazil’s governmental bidding for immunoglobulin, Green Cross explained.
IVIG-SN is a blood fraction product which has effects on strengthening immunity and has shown 50 to 60 billion Korean won in revenue, one of Green Cross flagships.
It is because the price for IVIG-SN (on the basis of 2.5g and 50ml) hovers that in the domestic market that Green Cross has pulled out all the stops to export.
It has been told that its price is twice as high as that in the domestic market in Brazil, which means you can earn more than twice when exporting IVIG-SN to Brazil.
“Exports of IVIG-SN to Brazil have amounted more than 10 billion Korean won for the past five years,” an official from Green Cross said, ”The market share of Green Cross in the private market of immunoglobulin is almost 40 percent.”
Moreover, it is just around the corner for Green Cross to advance into North American markets, the world’s largest in blood fraction product. Green Cross is going to apply for approval on the items of biological products to U.S. Food and Drug Administration this year and start construction of a manufacturing facility in Canada to make foundation of production in North America.
By Lee Jae-seung
