GC Medical Science (GCMS), a South Korean leading pharmaceutical company, has received approval from the Egyptian Drug Authority (EDA) for its quadrivalent influenza vaccine, "GCFLU Quadrivalent Pre-filled syringe inj."
This marks a significant milestone as it is the first quadrivalent flu vaccine to be approved in Africa. Egypt, with one of the largest pharmaceutical markets in the region, is expected to have a flu vaccine market worth approximately USD 45 million by 2022.
GCMS's flagship vaccine product, "GCFLU," has gained global recognition for its manufacturing technology and the safety and effectiveness of its domestic vaccines. With each passing year, the company has been expanding its export reach and volume, using its proven flu vaccine expertise.
With the approval of the quadrivalent flu vaccine in Egypt, GCMS aims to further expand its global presence beyond the existing flu vaccine markets in Southeast Asia and Latin America, focusing on the Africa-Middle East region. Additionally, leveraging its position in the international organizations' procurement market, the company plans to enter the private markets of individual countries.
Recognizing the growing trend of switching to quadrivalent flu vaccines both in international organizations' procurement market and individual countries worldwide, GCMS aims to capitalize on this opportunity.
By simultaneously targeting the international organizations' procurement market and the private markets of individual countries, the company aims to generate synergies, increase sales, and enhance profitability.
