Ilyang Pharmaceutical announced on March 21 that it will export its seasonal influenza vaccine to Bangladesh, following the Bangladesh health authority’s approval given on March 20.
The deal is meaningful for Ilyang as it represent’s its first overseas export after entering the vaccine business.
Through this contract, Ilyang has officially entered the south hemispheric vaccine market, which shows the opposite seasonal characteristics from the northern hemisphere. The deal also allows Ilyang to operate its vaccine plant throughout the year and increase productivity. The company has established a system that allows it to supply vaccine all around the world starting from the second half of this year.
In addition, the company is currently in the process of negotiating with Asian countries, including India, Pakistan, the Philippines and Brunei, as well as African and the Middle Eastern countries, for exports of its vaccines. Some countries have already fixed the prices and volumes for vaccine imports. Ilyang Pharmaceutical also plans to supply vaccines through organizations affiliated with the World Health Organization (WHO).
Ilyang Pharmaceutical, which is the second Korean pharmaceutical company to produce the vaccine concentrate, is aggressively expanding its export markets following WHO’s PQ approval of the seasonal influenza vaccine.