Green Cross receives WHO prequalification for seasonal flu vaccines
The company is Asia's first, and the world's second, multinational pharmaceutical company to obtain prequalification status for both multi-dose and single dose seasonal flu vaccines. Green Cross can now participate in the international bidding process for the vaccines.
The company acquired the prequalification for its multi-dose vaccine on November 7 after it obtained prequalification status for its single-dose vaccine in April 2011.
"Following WHO prequalification of our single-dose GC FLU vaccine, we have now acquired approval for the multi-dose GC FLU vaccine," Kim Young-ho, Green Cross' executive director, said. "This means that our company can now take a huge step towards becoming a truly global manufacturer of flu vaccines. The cornerstone of future growth will be based upon large-scale supply contracts with WHO agencies, as well as an increase in exports to South America, Asia, and the Middle East."
The prequalification system certifies the efficacy and safety of all aspects of vaccine production, quality control and clinical trial results.
The prequalification is expected to allow for significant growth in Green Cross's export of seasonal flu vaccines, particularly with multi-dose seasonal flu vaccines. The multi-dose vaccines account for 75 percent of international bids organized by the Pan American Health Organization.
The global flu vaccine market is estimated to be worth $3 billion, with a predicted annual growth of eight percent.