HK inno.N will invest 97 billion won to expand solid oral dose production facilities at its Osong plant in North Chungcheong. The move is to expand production capacity in response to growth in prescription drugs such as the gastroesophageal reflux disease treatment "K-CAB (active ingredient tegoprazan)" and broader global expansion.
Kolmar Korea said its subsidiary HK inno.N held a board meeting on the 21st and decided on a new facility investment. The investment period runs until Jan. 31, 2028. The target is a new production facility with a total floor area of 12,561.98 square meters to be built on the remaining site at the Osong plant.
The company said the purpose of the investment is "to secure mid- to long-term growth drivers and strengthen competitiveness by expanding solid oral dose production facilities for tablets and capsules."
The Osong plant is HK inno.N's key pharmaceutical production base and currently produces solid oral doses, anticancer injectables, and infusion solutions.
The expansion is being pursued in line with growth in the prescription drug business. HK inno.N posted first-quarter revenue of 258.7 billion won and operating profit of 33.2 billion won. Those figures rose 4.6% and 30.8%, respectively, from a year earlier. Expanded sales of key prescription drugs such as K-CAB drove the improved results.
The expansion of K-CAB in overseas markets is also cited as a factor increasing the need to boost capacity.
HK inno.N recently launched K-CAB in India, and in the United States its partner is proceeding with a new drug application to the Food and Drug Administration (FDA) based on phase 3 clinical results. In Japan, the company has secured rights for development, manufacturing, and commercialization. The company plans to strengthen mid- to long-term production capacity in preparation for global market expansion.