| Samyang Corporation to Concentrate Investments in Medical Instruments |
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Date : 2005-08-23 |
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Samyang Corporation to Concentrate Investments in Medical Instruments
Samyang Corporation (CEO & Chairman Yoon Kim) is planning to invest heavily in the drug delivery system (DDS) and medical instruments sector.
The company is exerting efforts in the development of new products such as anti-cancer drugs with enhanced effects using DDS technology, pills that may be taken without water, a pain-treatment patch, a surgical knife for herniotomies, and other products.
The company is also focusing its capabilities in research and development to improve the quality of existing products such as the nicotine patch, sutures for surgery, and more.
Samyang Corporation is also stepping forward to increase sales of its main products such as Genexol (developed by Samyang Genex in cooperation with CJ, Chong Kun Dang Pharmaceutical, and Daewoong Pharmaceutical) and Nicostop.
Samyang Research, a corporation established within the U.S., is carrying out research projects including the development of a drug delivery system for protein based on the advanced technology of onsite research resources.
Samyang is also planning to expand the number of overseas markets for its product launches.
Genexol is currently exported to Southeast Asia, India, and Eastern Europe, and applications for sales in 26 additional countries in Asia, Africa and Central America have been currently filed.
A second round of clinical tests for Genexol-PM, the next generation anti-cancer drug, is being conducted simultaneously in Korea and the U.S., and the export of such technology targeting prominent pharmaceutical companies in the U.S. and Europe is underway.
The company is also selling absorptive suture to 27 countries, including European nations, and it expects sales to grow by 20% per annum with the increase in demand.
Persons concerned of the Company stressed, ¡°We will meet the sales target of 20 billion won for this year by tackling mainly the DDS and medical instrument markets.¡±
The Korea Economic Daily, March 10, 2004
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