GC Medical Science (GC MS) said Friday that it has signed an agreement for the long-term supply of hemodialysis solutions with Baxter Korea’s Kidney Business Division.

GC MS has supplied hemodialysis solutions to Baxter for the past five years, from 2019 to 2023. With the latest agreement, GC MS will continue to supply hemodialysis solutions until the end of 2028.

Having completed a new hemodialysis plant, the Eumseong Plant 2 in North Chungcheong Province, in 2019, GC MS has the largest hemodialysis plant in Korea, capable of producing more than half of the country's hemodialysis fluid supply.

"The domestic hemodialysis fluid market is growing at about 7 percent annually due to the increase in the number of dialysis patients amid the population aging and the extension of the lifespan for existing patients who cannot be completely cured," a GC MS official said. "We have a manufacturing share of about 50 percent and expect stable sales and profits by signing this long-term supply agreement with Baxter."

Representatives from both companies attended the signing ceremony, including GC MS President Sagong Young-hee and Baxter Korea General Manager Im Kwang-hyuk.

GC MS is also developing a powdered hemodialysis solution for launch in the second half of 2024 and has completed expanding the production line at its second plant in Eumseong. The powdered hemodialysis solution, which is currently entirely imported, is smaller in volume and lighter than the existing liquid product, making it easier to transport and more user-friendly. GC MS said it plans to enter the global market after the domestic launch of powdered hemodialysis solution.