CHUNGCHEONGBUK-DO < invest Korea

According to Pulse by Maeil Business News Korea,

South Korean healthcare company Huons will invest about 24.5 billion won ($18.3 million) to expand production capacity for injectable products at its plant at home to meet their burgeoning demand from overseas.

The company said on Monday it will add two new lines for vial and cartridge production in Jecheon, Chungbuk Province, by the third quarter of 2025.

The new vial line will be capable of rolling out 73 million vials, a 2.5-fold increase from the previous production of 35 million, while the new cartridge line can produce 71 million cartridges.

The capex plan aims to respond to a demand surge after marketing approval from the U.S. Food and Drug Administration (FDA) was granted to its four new products including local anesthetic lidocaine injection. With the new lines, the company will diversify export markets, the company said.

Huons said it will bring back some outsourced products to the new lines and launch new products to increase factory run rate.

Huons shares lost 3.81 percent to 30,300 won on Monday morning.


By Minu Kim

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Nov. 28, 2022)