GC Biopharma said Thursday that its flu vaccine, GCFLU, has been awarded an order worth about $10 million (about 13 billion won) in a 2024 tender by Thailand's Government Pharmaceutical Organization (GPO), a state-owned pharmaceutical company.

This is the largest contract GC Biopharma has won since entering the Thai flu vaccine market in 2014.

The company explained that the contract terms, including the amount and duration, are subject to change depending on the agreement with the host country.

"As the seasonal flu vaccine has a vaccination period before it spreads, rapid response capability is an important factor in signing export contracts," said Lee Woo-jin, head of GC Biopharma’s Global Business Division. "The government's active administrative support for vaccine exports by, for instance, shortening the national export approval schedule, helped us win this contract."

Lee added that based on the company’s strength in the procurement market of international organizations, it will also accelerate entry into the private market of individual countries.

GC Biopharma is the largest supplier of seasonal flu vaccines to international organizations under the World Health Organization (WHO) by supplying flu vaccines to 63 countries.