ID :
191541
Tue, 06/28/2011 - 12:28
Auther :
Shortlink :
https://oananews.org//node/191541
The shortlink copeid
Global stem cell drug market to hit US$12.5 bln in 2019: CEO
SEOUL, June 28 (Yonhap) -- The global market for stem cell-based drugs is expected to reach US$12.5 billion in 2019 on strong demand from people suffering from incurable diseases, the head of a local drug firm said Tuesday.
Kim Hyun-soo, CEO of FCB Twelve Co., which is expected to receive government permission to market the world's first stem-cell drug in early July, said in a press conference that the market is expected to grow rapidly in the coming years, fueled by demand from patients.
"Based on the experience gained in the development of Hearticellgram-AMI, FCB Twelve plans to capitalize on the boom and be a front-runner in this sector," the executive said.
Hearticellgram-AMI, made by FSB's sister company, is a custom-made drug that uses the marrow of a patient who suffered from acute myocardial infarction to revive dead muscles and cells in the heart. Currently, such conditions cannot be treated even though they can lead to serious health problems.
Sales of the new drug, which must be injected directly into the patient, may reach 9 billion won (US$8.3 million) this year, but they will grow to around 61 billion won next year and over 122 billion won in 2013.
The company also said that the release of the Hearticellgram-AMI in late August could fuel sales of stem cell-related work that can add to the company's earnings and increase the size of the overall market.
The executive, in addition, said that the company is in the process of allowing foreign patients to come to South Korea so they can get prescriptions of the drug from doctors for treatment.
Technology transfers of the drug are also being considered to give more benefits to patients around the world, Kim said.
yonngong@yna.co.kr
Kim Hyun-soo, CEO of FCB Twelve Co., which is expected to receive government permission to market the world's first stem-cell drug in early July, said in a press conference that the market is expected to grow rapidly in the coming years, fueled by demand from patients.
"Based on the experience gained in the development of Hearticellgram-AMI, FCB Twelve plans to capitalize on the boom and be a front-runner in this sector," the executive said.
Hearticellgram-AMI, made by FSB's sister company, is a custom-made drug that uses the marrow of a patient who suffered from acute myocardial infarction to revive dead muscles and cells in the heart. Currently, such conditions cannot be treated even though they can lead to serious health problems.
Sales of the new drug, which must be injected directly into the patient, may reach 9 billion won (US$8.3 million) this year, but they will grow to around 61 billion won next year and over 122 billion won in 2013.
The company also said that the release of the Hearticellgram-AMI in late August could fuel sales of stem cell-related work that can add to the company's earnings and increase the size of the overall market.
The executive, in addition, said that the company is in the process of allowing foreign patients to come to South Korea so they can get prescriptions of the drug from doctors for treatment.
Technology transfers of the drug are also being considered to give more benefits to patients around the world, Kim said.
yonngong@yna.co.kr