The stomach ulcer drug Omed received approval from the German Federal Ministry of Health SK Pharmacy (CEO: Min-Ho Cho) and has finished registration of the stomach ulcer drug Omed (material for omeprazole) on June 22nd for sale in Germany. It has acquired approval for sale from the German Federal Ministry of Health (BfArM). Omde is developed by SK chemicals, is sold by SK pharmacy, and has satisfied the strict German drug manufacturing standards by passing local tests by the German government according to the European GMP (Good Manufacturing Practice) standards for the first time as a finished drug developed in Korea. The acquisition of export and sales approval from the German market is very significant as it paves the way to recognize superiority of the drug in the European market. The material for omeprazol is recognized as a drug with best sales among whole drugs by generating more than 6 billion dollars in sales in 1999 (yearly average growth rate is above 20 %). Losec from Swedish Astra was the original brand. However, due to difficulties in the manufacturing method, other pharmaceutical companies have had a hard time approaching the market even after the expiration of a substance patent of omeprazol in April this year. Under these circumstances, the manufacturing patent developed by the Life Science Research Institute of SK chemicals has been acknowledged for its originality and is sold in Europe. By the end of 2008, when the manufacturing patent expires, it will be a strong competitor in the markets of advanced countries. Great sales ares expected. The local partner Stada Co. (one of the three generic pharmacies in Germany located at Frankfurt) has the exclusive sales license in 15 countries in Europe including European countries and is striving for 100 million dollars within 2 years of marketing by paying designated royalties and all expenses involved in the registration in Europe. Currently, SK Pharmacy has applied for sales registration in other European countries including Britain and France. Negotiations are in progress with pharmaceutical companies in the US market on licensing. As soon as a contract is made registration on FDA will be fully initiated. SK chemicals has been recognized for its technology and will develop drugs and execute active marketing on generic drugs in the markets of advanced countries with SK Pharmacy.