Korean Economy News
Korea’s Humedix expects sales to hit $182 mn with opening of new factory

By Kim Hye-soon and Lee Eun-joo

South Korea’s healthcare company Humedix Co. has opened its second manufacturing facility in Korea that is expected to help it earn 200 billion won ($182 million) in annual sales with added capacity.

The Kosdaq-listed company, a healthcare unit under Huons Global, will kick off operation of its second manufacturing site with a total floor area of 10,051 square meters, which is quadruple the size of its existing manufacturing plant, the company said on Wednesday.

The company that produces drugs, active pharmaceutical ingredients, medical equipment, cosmetics, and health functional foods has spent 48 billion won to build the new manufacturing site located in Jecheon, North Chungcheong Province.

Humedix expects the new plant would enable it to rake in 200 billion won in annual sales once it is in full operation allowing it to produce drugs and medical goods under an original equipment manufacturing contract. Last year, Humedix raised 12.8 billion won in operating income on a consolidated basis on sales of 47.1 billion won.

At the second manufacturing facility, the company can produce 100 million ampoules, 50 million vials, 20 million pre-filled injections, and 10 million dermal fillers every year. Humedix plans to start producing Elravie dermal fillers and osteoarthritis treatment Highhyal Plus injection at its new factory.

The first floor of the new facility has a filling and packaging line for high viscosity products such as dermal fillers, while the second floor has a charging line for ampoules and vials, a freeze-drying line for medicines that go into the vials, and a packaging line to produce injections.

Shares of Humedix ended at 36,900 on Wednesday, down 1,250 won or 3.28 percent from the previous session.

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