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Green Cross wins largest ever flu vaccine export deal

Posted March. 21, 2017 07:11,   

Updated March. 21, 2017 07:16


Green Cross has won the largest order of flu vaccine as Korean pharmaceutical companies. Green Cross announced on Monday that the company secured a contract worth 37 million dollars (41.8 billion won) from the Pan American Health Organization (PAHO) under WHO in a bid to supply medicines in the southern hemisphere for 2017. The deal recorded an increase of 15 percent from flu vaccine exports to PAHO last year's 32 million dollars.

Green Cross earned 200 million dollars in total in seven years since it began to export flu vaccine in 2010. PAHO is one of the world’s largest demand sources and Green Cross stands at the no. 1 flu vaccine supplier since 2014. The peak time of flu season of the southern hemisphere is opposite to the northern hemisphere including Korea as the seasons in the north and south are the opposite. “The deal is meaningful in that we have secured a source of continued revenue by exporting our flu vaccine to southern hemisphere,” Green Cross said.

Eun-Seo Park clue@donga.com