Union Korea Pharm agrees to export 8 drugs to Jurabek

Uzbekistan pharmaceutical company, Jurabek Laboratories

Will supply the company’s representative antibiotics and injections including Atrasen Tab and Kefodon Inj

Jurabek will bear the burden of product registration and marketing costs… will increase sales to other countries in the future

The two established a joint venture in Uzbekistan in May last year... Plant construction is also in progress.

Union Korea Pharm signed an agreement to export 8 types of drugs with its Uzbekistan partner, Jurabek Laboratories.

 

According to the company on the 7th, the 8 export items include the company’s representative antibiotics and injections such as Atrasen Tab, Serokfen Tab, Uni-Minoxidil Tab, Atorvan Tab, Kefodon Inj, and Amikacin Inj.

 

The local pharmaceutical company, Jurabek Laboratories, will bear the product registration and marketing costs in Uzbekistan.

 

Jurabek plans to expand sales to neighboring countries in Central Asia (Kazakhstan, Tajikistan, Turkmenistan, etc.).

 

in the future.

 

Union Korea Pharm established a joint venture with Jurabek in May last year.

 

Due to the time required to establish the plant and manufacturing facilities, the companies decided to cooperate by exporting drugs produced in Korea first.

 

The 8 items exported this time are a part of the agreement.

 

Byung Ha Back, President and CEO of Union Korea Pharm, said, “We will increase our presence in the global market based on the excellent quality of our products that are recognized around the world.” Union Korea Pharm achieved a surplus for the first time in three years last year, powered by increased sales of its antibiotics and cold medicines and improved profits and losses structure due to the normalization of utilization rates of its new plant.

 

The company’s total sales exceeded KRW 60 billion for the first time.

 

Analysts predict that the new plant (Munmak Plant 2) that the company invested KRW 30 billion on will drive the company’s performance in the future.

 

The Munmak Plant 2 has secured 2.5 times the production capacity of Plant 1 and owns two lines for injection manufacturing (30 million ampules/year) and one line for solid drugs (500 million tablets/year).

 

After receiving GMP certification in 2H 2021, the company has been increasing the plant’s utilization rate since 2022.

 

More than KRW 100 billion in new sales could be generated when the second plant is fully operated.

 

As of the end of last year, the plant's utilization rate was 80%.

 

At the end of Q1 this year, the rate rose to 85%, and the rate is expected to rise to 90% by the end of this year.