ajunews Thursday,22 February 2024

Healthcare company PharmGen Science secures $1 mln export contract with Vietnam's distribution firm

By Kim Joo-heon Posted : June 22, 2023, 13:58 Updated : June 23, 2023, 08:03

[Courtesy of PharmGen Science]

SEOUL -- PharmGen Science, a Seoul-based healthcare product developer, has sealed an order worth $1 million to provide medicines, health supplements, cosmetics, and medical devices for Medicare, a Vietnamese medical product distributor with about 6,000 clients. The South Korean company will also operate an office in Vietnam to expand its business scope into the Southeast Asian market.
 
PharmGen Science produces various types of drugs such as Vardipine Tab, a product used for cardiovascular disease, and Nephris-S Tab, a treatment for kidney diseases. The company also produces COVID-19 test kits, skin products, and health supplements including probiotics and multivitamins. The healthcare firm's sales exceeded 150 billion won ($116 million) in 2022, up 50 percent from a year ago.
 
"We have signed a contract with Medicare to supply $1 million worth of products this year," PharmGen's spokesperson Kim Tae-yong told Aju Business Daily on June 22. After exporting health supplements and beauty products, the South Korean healthcare company will expand export items including medicines and medical devices. Medicare, based in Hanoi, is providing medical and cosmetic products to hospitals, pharmacies, and beauty shops mainly located in Vietnam's northern region.
 
PharmGen Science will open its liaison office in Vietnam in July 2023 to expand its network in other countries in Southeast Asia. The healthcare solution developer aims to later make a foray into North American and South American markets.  

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