GC keeps largest flu market share in Latin America with extra order

GC said it has won a $43.38 million contract with Pan American Health Organization (PAHO) to supply its influenza vaccine to Latin America.

The vaccines will be supplied to Latin American countries in the first half of the year.

With the latest bidding win, GC maintained the top market share position for PAHO's southern hemisphere influenza supply for the past decade.

The market environment is also very positive.

According to Evaluate Pharma, a global market research firm, the global influenza vaccine market is expected to grow from $5.8 billion in 2020 to $7.4 billion in 2025.

The company stressed that as the trend of switching to quadrivalent influenza vaccines is expanding overseas, the company's growth will be further fueled by increased sales and profitability.

"We will continue to grow based on our excellent products that have been recognized in the global market," GC's Global Business Division head Lee Woo-jin said.

Meanwhile, GC became the second company in the world to receive WHO prequalification (PQ) certification for GCFluquadry Balant Inj., its quadrivalent influenza vaccine, in 2016.