GC Green Cross plans to invest 530 billion won to establish production infrastructure targeting the subcutaneous immunoglobulin (SCIG) market. The company aims to enhance its global competitiveness in plasma-derived products by expanding its Ochang factory with dedicated SCIG production lines.
On July 17, GC Green Cross announced that it has signed a memorandum of understanding (MOU) with North Chungcheong Province and Cheongju City for long-term investments in the region.
The company intends to build new production facilities at the Cheongju Ochang factory by 2033, with 140 billion won allocated for SCIG production equipment. The expansion is expected to create 120 new jobs.
Through this investment, GC Green Cross plans to accelerate the establishment of SCIG-specific production lines and the commercialization roadmap. The company also committed to ensuring smooth project execution, utilizing local materials, and prioritizing hiring local residents.
North Chungcheong Province and Cheongju City will provide administrative support to facilitate the project's progress.
According to GC Green Cross, the U.S. immunoglobulin market is the largest in the world, valued at approximately $14.4 billion (about 20 trillion won) annually. Prices in the U.S. are more than six times higher than in South Korea, making the expansion of prescriptions a pathway to improved profitability. While intravenous (IV) formulations currently dominate, there is a shift towards the more convenient subcutaneous (SC) formulations.
The company noted that only three high-concentration 20% SCIG products have been launched in the U.S., prompting a strategy to expedite clinical development for early market entry.
GC Green Cross plans to submit an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) next year for its non-clinical product 'GC5136B,' based on an optimized production process. The company has set a long-term goal of achieving a double-digit market share in the U.S. immunoglobulin market post-commercialization.
GC Green Cross CEO Heo Eun-cheol stated, "This investment is a decision to continue the success of Aliglo, which has successfully entered the U.S. market. We will work closely with local governments to expand high-value production infrastructure and further enhance our competitiveness in the plasma-derived products sector."
* This article has been translated by AI.
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