Green Cross said Wednesday that it has signed the company’s largest export contract with Brazil.
Under the contract, the company will supply 47 billion won ($42.9 million) worth of IV-Globulin SN (IVIG-SN), a blood product, to Brazil. The contract payment surpasses the company’s total exports of IVIG-SN last year.
IVIG-SN is one of the company’s chief blood products of Green Cross and treats various diseases, including congenital immunodeficiency disease and immune thrombocytopenia.
“Green Cross’s product is growing its market share both in the Brazilian private market as well as the country’s public market,” a company official said. “Blood product exports are expected to remain strong.”
The supply to Brazil will begin next year.
Green Cross 녹십자 is pursuing overseas markets emphasizing procuring foreign public markets, with exports accounting approximately 70 percent of its annual sales. Blood products are priced higher in the overseas market than in the domestic markets, which make exporting the product a profitable business model, the company said.
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