Huons aims to boost sales of its eye drops in China
![Huonland aims to accelerate eye drop manufacturing and CMDO businesses while also commemorating the 10th anniversary of its establishment. [HUONS]](https://koreajoongangdaily.joins.com/data/photo/2022/09/27/02d702cb-4ceb-480a-b460-9618780025c3.jpg)
Huonland aims to accelerate eye drop manufacturing and CMDO businesses while also commemorating the 10th anniversary of its establishment. [HUONS]
Huons intends to accelerate the sales of eye drops while celebrating the 10th anniversary of Huonland, a collaborative business between Huons and China’s Beijing Northland Biotech.
Huonland is a joint venture established by Beijing Northland Biotech, a Chinese pharmaceutical company, and Huons in an effort to enter the Chinese eye drop market.
Huonland displayed significant sales during its business last year, marking the highest profits since its foundation. Sales reached roughly 56 million Yuan, a 38 percent increase compared to sales in the previous year. The recent three years have shown an average annual growth rate of 181 percent. This rapid development has marked a turnaround for Huonland and the company is willing to prolong its success by actively enlarging its business in the Chinese market.
The company’s benefits are driven by a balanced development of all sectors especially including eye drops and as a Contract Manufacturing Organization (CMO). Eye drops in particular recorded a notable 8.3 billion won, which is a 394 percent increase from the product’s sales in the previous year. The sales of Hyaluronic eye drops and brimonidine eye drops marked 5.5 billion won and 500 million won, respectively which are both over a 120 percent increase in regards to the previous year’s sales. CMO businesses have also shown a 161 percent development rate compared to the previous year in accordance to 12 successful CMO sample projects in substance approval.
Huonland’s competitive strategy aims to establish itself as a major eye drop retailer and a leader of the CMO business. Apart from its signature products, brimonidine tinate and olopatadine hydrochloride used to treat glaucoma and allergic conjunctivitis, the company endeavors to generate new types of eye drops and diversify its lineup. Huonland has recently acquired item approval for moxifloxacin hydrochloride in May this year, as a means of treating keratitis. The company has two additional substances on standby for item approval. Huonland hopes that it grasps momentum of continuously developing in the following two to three years, establishing a continuous and vigorous increase of sales onward.
In terms of CMO industries, Huonland will focus on expanding its business via the chemicals of its current to-be launched products moxifloxacin, and levofloxacin.
“Consistent efforts to discover new pipelines as well as strengthening our CMO/CDMO business will enable Huonland to be acknowledged as a representative eye drop manufacturer within China,” said a Huonland employee.
BY LEE HYEIN [lee.hyein@joongang.co.kr]
with the Korea JoongAng Daily
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