GC Biopharma to export $90 mil. blood products to Brazil until 2028

GC Biopharma said on Monday that it signed a deal with Blau Farmaceutica, a Brazilian partner, to supply its immunoglobulin blood product, Immune Globulin Intravenous (IVIG-SN5%), to Brazil until 2028.

More specifically, GC Biopharma will supply blood products estimated at $90.48 million (approximately 119.4 billion won) to Brazil for five years until June 29, 2028.

IVIG-SN, the company's flagship blood product, is used for a variety of indications including congenital immunodeficiency disorder and immune thrombocytopenia. The product is manufactured using U.S. plasma at GC Biopharma’s dedicated production facility for export blood products in Ochang, North Chungcheong Province.

Brazil is the largest market for blood products in South America, with an estimated market size of $270 million for immunoglobulins as of 2022. 

GC Biopharma has been supplying blood products to the Brazilian government's drug tender and private market since 2015. In addition, it currently exports 12 blood products, including albumin, to 32 countries worldwide, including Argentina, Uruguay, and Vietnam. 

GC Biopharma CEO Huh Eun-chul said, "We will continue to increase our share of the global market for blood products based on our excellent products that have been recognized around the world."

A company official from GC Biopharma also stated that the company is preparing to enter the U.S. market for IVIG-SN 10% following its due diligence conducted on the Ochang plant in April. Consequently, it is preparing to submit a biologics license application (BLA) to the FDA later this month. 

Meanwhile, its competitor, SK Plasma, is focusing its efforts on monopolizing the South East Asian continent with a contract valued at 29.2 billion won for a three-year period with Singapore and a new blood product plant expected in Indonesia by 2025.