Global Business
Korea United Pharm speeds Vietnam push, targets double cancer drug sales
Dong-A Ilbo |
Updated 2026.02.05
Strategy meeting with domestic bio firm on export expansion
Plan to double oncology drug sales and grow OTC medicines by 50% by 2026
Discussing local supply in Vietnam of three new anticancer drugs including Cabotinol Injection
Selecting key products to promote, including improvements to Hometamin Ginseng formulations and growth of Fortec
Plan to double oncology drug sales and grow OTC medicines by 50% by 2026
Discussing local supply in Vietnam of three new anticancer drugs including Cabotinol Injection
Selecting key products to promote, including improvements to Hometamin Ginseng formulations and growth of Fortec
From left: Professor Nguyen Minh Duc, Ngo Duc Vinh, CEO of BIONAM, Kang Duk-young, CEO of Korea United Pharm Inc., Vice President Kim Gwi-ja, and Executive Director Yang Jin-young
Korea United Pharm Inc. announced on the 5th that it recently held a strategic meeting with its local Vietnamese partner BIONAM to expand their market presence. Management from both companies met in Vietnam from January 23 to 24.Key figures from both sides attended the meeting, including Korea United Pharm CEO Kang Duk-young and BIONAM CEO Ngo Duc Vinh. They reviewed sales performance of existing core products and discussed mid- to long-term growth strategies and cooperation plans.
Korea United Pharm is currently supplying the multivitamin “Homtamin Ginseng” and anticancer drugs to Vietnam through BIONAM. The two companies shared a goal of more than doubling annual anticancer drug sales year-on-year by 2026 and increasing over-the-counter (OTC) product sales, including Homtamin Ginseng, by more than 50%. To this end, they will promote strategies to strengthen academic activities targeting local medical professionals and expand distribution networks.
In the anticancer segment, in addition to existing products, they plan to introduce three new anticancer drugs to Vietnam, including “Carbotinol Injection” (carboplatin injectable, for ovarian and lung cancer). These products will be manufactured at Korea United Pharm’s new cGMP (current Good Manufacturing Practice) certified plant, enhancing quality competitiveness.
To expand OTC products, the company will use plants that have passed GMP inspections by the Korean Ministry of Food and Drug Safety to secure supply stability. Homtamin Ginseng will be improved in formulation to enhance efficacy and competitiveness, and liver function enhancer “Fortec” will be designated as the next key product, with a focus on marketing.
The pharmaceutical market in Vietnam is estimated at around USD 7 billion and is growing at an annual rate of 7–8%. It is characterized by rising demand for prescription drugs, including anticancer agents, and high dependence on imports. Korea United Pharm plans to target the market by building a stable supply chain through close cooperation with its local partner.
Kim Sang-jun
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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