Daewoong to expand its diagnostic kit business globally

by utilizing its experience in COVID-19

Calth COVID-19 professional kit has been available in Korea since February

Vietnam Vietha Pharma and 12 billion won worth of COVID 19 diagnostic kits export contract

Plans to launch overseas such as hepatitis B, C and HIV antibodies, dengue fever antigen and antibody kits

The number of new COVID-19 confirmed patients is increasing rapidly again.

 

As of May this year, the number of confirmed patients in Korea has continued to decline, but it has rebounded since the record of 3,423 confirmed patients at the end of June, and the doubling of confirmed patients has continued for four weeks.

 

In addition, face-to-face visits are restricted again in nursing hospitals and facilities.

 

As COVID-19 enters a phase of re-proliferation, expert diagnostic kits are drawing attention again to determine whether COVID-19 is confirmed.

 

Currently, there are a total of 32 antigen test kits for COVID-19 experts, including SD BioSensor, GenBody, SugenTech, and Calth, as of the 14th of this month.

 

Among them, Calth, a startup specializing in in vitro diagnostic medical devices, has a contract with Daewoong Pharmaceutical to supply AllCheck COVID-19 Ag, Daewoong COVID-19 Ag.

 

The Calth diagnostic kit supplied by Daewoong Pharmaceutical in Korea can be determined within 15 minutes by diagnosing the presence of viruses in the human nasopharynx and oropharynx using immunochromatography.

 

Excellent performance of 92.11% sensitivity and 99.52% specificity have been proven through clinical trials.

 

It is effective in diagnosing mutated viruses because it targets nucleocapsid proteins, which are easily mutated, as well as nucleocapsid proteins, and can be detected only with 0.1 ng of nucleocapsid proteins per ml in minimum detection limit analysis.

 

Daewoong Pharmaceutical, which started selling in Korea in mid-February this year for the first time in the diagnostic business area, settled in the domestic market by selling to more than 1,000 open stores and small and medium-sized hospitals within two months of its release.

 

With COVID-19 recently entering a phase of re-proliferation, it plans to expand its market share in Korea and expand its appearance to various screening areas such as COVID-19 and influenza dual test kits in the future.

 

Daewoong Pharmaceutical signed a 12 billion won COVID-19 diagnostic kit export sales contract with Vietnam's large pharmaceutical company Vietha Pharma Corp at the end of last year and completed local quality testing approval and is proceeding with the final approval process.

 

Daewoong Pharmaceutical plans to continue its diagnostic kit business globally based on its experience in entering the COVID-19 diagnostic kit business accumulated in Korea and Vietnam.

 

According to an official from Daewoong Pharmaceutical, in addition to the COVID-19 diagnostic kit, it plans to expand its business to countries around the world in various fields such as ▲B, hepatitis C ▲ HIV antibody ▲ dengue fever antigen/antibody kit, and is recently negotiating visible contract conditions for entry into Thailand.

 

According to the Global In-Vitro Diagnostics Market of Allied Market Research, a market research institute, the global in-vitro diagnostics market reached $71.4 billion (about 94 trillion won) in 2020 and is expected to grow 4.08% annually to $106.9 billion (about 141 trillion won) in 2030.

 

Among them, the annual average growth rate of the infectious disease diagnosis market is the highest at 6.3%, which is expected to reach $35.8 billion (about 47 trillion won) in 2027.