| Subjects | Yungjin Pharm Signs $11M Contract Extension to Supply Cephalosporin-based Antibiotics with Mylan Seiyaku. | hit | 682 |
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| Write | G.B.D | Date | 2020-10-21 |
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Yungjin Pharm signed a contract on the 10th to extend its supply of cephalosporin-based antibiotics to Japan's Mylan Seiyaku Ltd. The deal is an extension of the contract previously signed with Mylan Seiyaku in October 2014 by three years, with a size of 12.2 billion won.
According to the contract, YJP will exclusively produce and supply Ceftazidime, and Ceftriaxone Sodium, both cephalosporin-based injections, which are sold in the Japanese market by Mylan Seiyaku. This can be interpreted as the steady recognition of the quality of YJP¡¯s products. In 2019, 37 percent of YJP¡¯s sales occurred from overseas. Of the foreign sales, 75 percent constitutes of exports to Japan, which demonstrates its high dependence on the Japanese market. Recently, YJP has been striving to explore to markets in China and other countries to minimize the risks inherent to its export structure focused on Japan. ¡°Based on stable sales to existing clients, we will make efforts to secure new customers and boost sales,¡± said an official from YJP. |
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