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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Daewoong Bio announced on the 4th that it has completed the construction of its new biopharmaceutical factory in Hyangnam, Hwaseong, Gyeonggi Province, which began in March last year. The new facility represents an expansion from its previous focus on raw pharmaceutical ingredients to include microbial-based biopharmaceutical Contract Manufacturing Organization (CMO) services.
Pyeong Do-kyu, Head of Production at Daewoong Bio, stated, "Starting next year, we will begin full-scale production of microbial-based biopharmaceuticals and enter the global CMO market, aiming to achieve 1 trillion won in sales by 2030."
The company has designed the facility to meet the U.S. Food and Drug Administration’s (FDA) Current Good Manufacturing Practice (cGMP) standards, with plans to secure FDA approval by 2028.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
