Genuone Sciences (CEO Mi-yeon Kim), a company selected as the “I-BIO Customized DT Marketing Project” conducted by the Incheon KOTRA Support Group, acquired Kolmar Pharma, Korea’s pharmaceutical division, and launched it as an independent company in November 2020.
Genuone, a leading synthetic drug CMO (consignment production), has more than 80% of Korean pharmaceutical companies (Hamni, Yuhan, Chong Kun Dang, LG, etc.) as its main customers and provides services necessary for the entire process, including Genuwon’s analysis and drug development know-how.
In particular, Genuone’s biggest strength is its ability to develop and produce various formulations such as △ oral solids, ointment creams, contents solutions, external solutions, and aseptic drugs, and the largest production facility in Korea, ranging from △ small clinical reagent units to large commercial units. In addition, KGMP-certified production and quality verification systems and high-performance facilities provide effective and safe high-quality medicines by providing optimized pharmaceutical solutions to customers.
Under the stable foundation of the CMO business, Genuone’s synthetic drug development technology and know-how, optimized production facilities, analysis, and drug development capabilities are provided to new drug development research ventures and pharmaceutical companies.
Genuone provides total services across all areas from development to shipment of finished products through the operation of its headquarters in Seocho-gu, Seoul, the central research institute in Hwaseong, Gyeonggi-do, and Sejong and Jecheon respectively.
Based on a wide portfolio of 670 drugs that have already been proven to be effective and safe, such as self-developed new drugs and generic drug approved products, it is expanding the global market by exporting 250 products to 20 countries including Hong Kong, Japan, Vietnam, Russia, Peru and Algeria.
Currently, solids and non-solids (content liquid, ointment cream, and aseptic) are registered and commercially available in accordance with the regulations of the Ministry of Food and Drug Safety abroad, and there are four major export items that will expand sales due to the importance of patents and licensing strategies.
△ Calcibeta Ointment: It was released in Hong Kong and Mongolia in line with the expiration of global patents as a psoriasis treatment and is currently being registered in three Asian countries and two Latin American countries. It has established a license and patent strategy with local sales distributors and is strategically developing and exporting 1st Generic products (psoriasis treatment – Calmio ointment), which will be launched as 1st.
△MUNALS Syrup: In collaboration with Unilab, the No. 1 local pharmaceutical company in the Philippines as a treatment for gastric ulcers, it was released as 1st generic to the Philippine market and currently exports 6 million bags a year. As a partner company with strengths in OTC, it is expected to expand in the future.
△ Neonypol Vaginal Soft Capsule: The domestic license as a treatment for women’s diseases has been registered as an external solid for the first time in Korea in response to strict regulations by the Ministry of Food and Drug Safety in Algeria.
△ Para K Inj. Fluid Bag: It is easy to distribute and store as a treatment for antipyretic analgesics, making it the first Korean product to be registered and released as a sterile drug in Ecuador.
Genuone reflects differentiated technologies for overseas supply of medicines. Representatively, there is the Para K Inj. Fluid Bag containing acetaminophen, a treatment for antipyretic analgesics. It is the first product to be developed and released in Korea as a PP Bag type packaging, supplementing shortcomings such as stability issues that may occur when distributed in glass bottle packaging or concerns about infection during preparation.
Since entering the pharmaceutical industry for the first time in 2002 with the Kolmar Pharmaceutical Division in Korea, Genuone has grown into a company that currently generates more than 300 billion won in annual sales by reinforcing its core capabilities. Among them, since 2013, when overseas business began, it has grown by about 20% every year, recording annual overseas sales of about 10 billion won. Currently, 65 local sales partners in 21 countries provide quality-guaranteed medicines based on government bidding and private markets.
In particular, through its economies of scale and unit price competitiveness, it has been supplying Hong Kong with a hepatitis B treatment worth 5 billion won for three years, Entekim Tabs (export name: Hepavance tablet), and it plans to export 3 billion won for three years.
An official from Genuone said, “We are a CDMO company that can both produce synthetic drugs (CMO) and develop CDO.” Through the recent expansion and relocation of the Central Research Institute, we are doing our best to create an optimal environment to strengthen partnerships with research ventures and pharmaceutical companies, focusing on R&D as a pharmaceutical CDMO company.
Furthermore, he explained, “Genuone’s Gen comes from the word Genuine, which can be best expressed with sincerity, and ONE intends to go to the company in the sense of ‘making one of the best teams’.”
As a future plan, he expressed his ambition, saying, “We want to establish ourselves as a good partner in pharmaceutical companies around the world and become a true partner that grows together.”