Yungjin Pharm. Co., Ltd. (CEO: Byung Hwan Ryoo) signed a Supply Agreement for Multi-Vitamin Syrup with Qingdao Baheal Medical Science & Technology Co., Ltd. on February 13, 2014.

Once the Multi-Vitamin Syrup is registered in China Food and Drug Administration (CFDA), Yungjin Pharm is expecting to export 38.1 billion KRW worth of the product to China during 10 years. This amount is equivalent with 27.7% of Yungjin Pharm’s last year’s sales. Qingdao Baheal Medical Science & Technology is one of the leading companies which has strength in sales of pediatric products in China.

Yungjin Pharm is planning to expand the business with Qingdao Baheal Medical Science & Technology with comprehensive cooperation between the two companies in pediatric products in the future.

Recently, Yungjin Pharm has achieved significant improvement among other Korean pharmaceutical companies in sales and exportation rate with Cephalosporin API and Finished products targeted mainly for Japan. As the result, Yungjin Pharm was awarded with the ’50 Million Export Tower award’ in 2013 after the company was awarded with the ’20 Million Export Tower award’ in 2010.

This contract is expected to lead a further expansion of finished product business in enormously large Chinese market. Together with ‘OPAST tablet’, medication for lumbar spinal stenosis, which is already under registration in CFDA, Yungjin Pharm is projected to achieve significant sales growth in Chinese market once sale is initiated.