Huons injection named 'Next Generation World-Class Product’ by Industry Ministry

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Huons injection named 'Next Generation World-Class Product’ by Industry Ministry

Published: 21 Nov. 2024, 15:33

Huons is named a “Next Generation World-Class Product Certified Company” by the Ministry of Trade, Industry and Energy on Nov. 19. [HUONS]

Huons’ lidocaine with epinephrine injection has been selected as a Next Generation World-Class Product of 2024, demonstrating the product's competitiveness.

The World-Class Product initiative, devised in 2001 for the purpose of promoting Korean exports, certifies winning products as "world class” by the Ministry of Trade, Industry and Energy.

Eligibility for the world class designation extends to products within the top five in global market share, with a share of 5 percent or more, while the "next generation” world-class products are those deemed to have the potential to attain the market share in the future.

Winners receive support from 11 specialized organizations, including the Korea Trade-Investment Promotion Agency, including certification, training, financial consulting, research and development and market access.

Huons is currently exporting lidocaine injections recognized by the U.S. Food and Drug Administration (FDA) for its superior quality. Recently, Huons also submitted an Abbreviated New Drug Application (ANDA) for a dental anesthetic. The company is also preparing an ANDA submission for two large-volume anesthetics — a larger-volume version of its lidocaine injections that are currently exported to the United States. If the three new products are registered by the second half of next year, Huons will have a total of eight FDA-approved injections.

The company plans to accelerate its export growth by diversifying its product portfolio.

“We have completed the expansion of an injection production line at the Jecheon Second Plant, expected to be fully operational by next year when it obtains Good Manufacturing Practice certification,” said Sang-bae Yoon, CEO of Huons, adding, “We plan to grow our export business supported by high quality products made at the Jecheon Second Plant and our increased influence not only in the U.S. market but in the global market.”

Huons is named a “Next Generation World-Class Product Certified Company” by the Ministry of Trade, Industry and Energy on Nov. 19. [HUONS]

BY KIM YEONSOO [[email protected]]

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