SK chemicals Site ManagerHerald Business 8 May, 2004
SK Pharma announced on May 7th that it had recently concluded an export contract for the anti-ulcer agent “Omed” with multinational pharmaceutical company Pharmacor. Under this contract, it will export “Omed” to seven Middle East countries including Saudi Arabia and Kuwait.
SK Pharm is planning to finish product registration this August in Saudi Arabia before it launches full-fledged sales, and intends to begin exports of the drug to other Arab countries in sequence.
Manufactured with a patented substance owned by the SK chemicals Research Institute, “Omed” was the first domestic drug to pass due diligence testing by the German organization BfArM. Export then commenced to Germany and Ireland, and was expanded to the United Kingdom, Netherlands, Belgium and Luxemburg. In particular, SK Pharm laid a foundation for world export by forging contracts with Australia, New Zealand, and the United States last year, and with Taiwan and Canada in March and April of this year, respectively.
An SK Pharma official said, “Over the past two years, exports of “Omed” reached 10 billion won per year in revenue. Exports are expected to grow continuously in the future, including in the Middle East.”
Reporter - Jung Il Ryoo