[Infostock Daily=Reporter Park Jeong-Do] Orion Holdings announced on the 23rd that it has signed a joint venture with China's state-run pharmaceutical company "Shandong Lucang Pharmaceutical (hereinafter referred to as Lucang)" to enter the bio business. Beyond the confectionery market, it has entered the Chinese pharmaceutical and bio market worth 160 trillion won. Orion Holdings and Lucan plan to invest 65% and 35% of their shares, respectively, to create a joint venture called 'Shandong Lucang Haoliyo Bioscience Development Limited' (tentative name).
Orion Holdings plays a partner role in discovering the best bio companies in Korea and entering China. Lu Kang is in charge of producing and selling products in China.
Orion Holdings selected "diagnosis kits"that detect "cancerous diseases" and "contagious diseases" with high incidence as its main business areas. After increasing the initial bio business capacity, the company plans to expand its business scope to synthetic drugs and new drug development in the long term.
First, it plans to promote and sell tuberculosis diagnosis kits of 'Sugentech', a bio-diagnosis company, and colorectal cancer diagnosis kits of ' Genomic Tree' in China. China is the world's second-largest country with the number of tuberculosis patients as of 2019, and the number of tuberculosis patients among the elderly is expected to increase sharply in the future due to the aging population. Sugentech's "Tuberculosis Diagnosis Kit" is a blood-based tuberculosis diagnosis technology that can diagnose tuberculosis with a small amount of blood.
Genomic Tree introduces a 'Colorectal Cancer Diagnosis Kit' that can identify colorectal cancer with 90% accuracy with only 1 to 2g feces. The marketability in China is expected to be high as the supply rate of colon endoscopy equipment in Chinese medical institutions is only 35%, and the need for the Chinese government to early diagnose cancer to ease the financial burden of health insurance premiums is high.
Reporter Park Jeong-Do newface0301@naver.com
