Icure Pharmaceuticals Expands Global Reach With Ketoprofen Plaster Export To Singapore

Icure Pharmaceutical announced on Tuesday that it has entered into an agreement with UITC to export Ketoprofen Plaster, a treatment for joint pain, stiffness, and swelling associated with conditions such as rheumatoid arthritis, osteoarthritis, and acute musculoskeletal injuries. UITC, which distributes pharmaceutical products in Hong Kong, Malaysia, and Singapore, will be involved in the Singapore government tender project. The volume of the product supply will depend on the size of the tender.

Icure also reported signing contracts for the supply of plasters and cataplasmas valued at approximately 15 billion won ($10.8 million) to Latin America, the U.K., and the UAE. The company maintains a global supply contract for the donepezil patch. Icure has secured agreements worth over 60 billion won, including a distribution deal for Southeast Asia with Italy's Menarini and a distribution agreement for the Middle East and Africa with Pharma Bavaria of Portugal.

As a contract development and manufacturing organization (CDMO), Icure specializes in developing and producing patches and plasters using transdermal drug delivery system (TDDS) technology. The company is also involved in the cosmetics ODM/OBM business. Icure operates a pharmaceutical KGMP and cosmetics CGMP-certified facility in Wanju-gun, North Jeolla Province, and is working towards obtaining overseas GMP certification.

Lee Young-Seok, CEO of Icure, said in a statement, “We will maximize our sales and profits by improving domestic sales structure and increasing capacity utilization rate through full-scale exports.”