GC Biopharma inks $90mn deal for blood products in Brazil

South Korea's GC Biopharma Corp. on Monday announced on Monday that it has a supply contract with Blau Farmacêutica, a Brazilian pharmaceutical firm, for its IVIG-SN 5% blood product.

The five-year contract, set to run until June 29. 2028, is estimated to be worth $90.48 million.

IVIG-SN is used in the treatment of conditions such as congenital immunodeficiency and immune thrombocytopenic purpura. It it produced at GC Biopharma's dedicated facility in Ochang, North Chungcheong Province, using plasma from the US.

Brazil represents a significant opportunity for GC Biopharma as the largest blood product market in South America. As of last year, the size of the Brazilian immunoglobulin market stood at approximately $270 million.

GC Biopharma, which has been supplying blood products to the Brazilian market since 2015, exports 12 different blood products, including albumin, to 32 countries globally, including Argentina, Uruguay, and Vietnam.

"We aim to increase our global market share for blood products, based on the superior quality of our products, which is recognized worldwide," CEO of GC Biopharma Huh Eun-chul said.

GC Biopharma is pursuing entry into the US market with IVIG-SN 10%. Having completed an on-site inspection of their Ochang plant in April, the company plans to submit a Biologics License Application to the US Food and Drug Administration within this month.

Write to Ji-Hyun Lee at bluesky@hankyung.com