Reyon Pharmaceutical is adding a new cash cow, capturing opportunities arising from structural shifts in the domestic hemostatic agent market. The company's efforts to expand its business for 'thrombin,' a core ingredient in hemostats, are projected to yield tangible results starting in the second half of this year.
Reyon Pharmaceutical announced on the 9th that it is focusing on strengthening its competitiveness in the thrombin market by expanding development collaborations with a multiple number of domestic biotech ventures. Thrombin, a blood coagulation accelerator, serves as the critical active ingredient in hemostatic agents. Reyon Pharmaceutical is the sole pharmaceutical company supplying thrombin in South Korea.
The domestic hemostatic agent market is estimated at approximately 300 billion KRW, demonstrating relatively rapid growth with an annual compound growth rate exceeding 10%. Historically, foreign products from companies such as Baxter International (USA) and Takeda (Japan) commanded roughly 80% of the domestic market share. Recently, however, domestic companies have aggressively entered hemostat development, driving up the proportion of localized products. Consequently, Reyon Pharmaceutical's role as a thrombin supplier is drawing significant industry attention.
In collaboration with T&R Biofab, regarded as a prominent leader in the domestic ECM (extracellular matrix) segment, Reyon Pharmaceutical supported the development of a patch-form 'matrix-type' hemostatic device. This hemostat is classified as a Class IV product—the highest regulatory grade for medical devices—and Reyon Pharmaceutical holds its exclusive domestic distribution and sales rights. The product has already secured formulary approval (coding) at major institutions, including Severance Hospital, Samsung Medical Center, and Asan Medical Center. Revenue is expected to materialize in earnest starting in the second half of this year.
Furthermore, Reyon Pharmaceutical has secured exclusive domestic distribution and sales rights for a Class III medical device hemostat in collaboration with Daeun Medical, with the regulatory approval process currently underway. The company has also established a collaborative relationship with NextBiomedical, which develops endoscopic hemostats. In addition, it has executed thrombin supply agreements with Dalim Tissen and Phavis Pharmaceuticals.
Reyon Pharmaceutical is simultaneously driving its proprietary hemostat business. Having completed development, the company is currently undergoing the formulary approval process at general hospitals across South Korea.
Milestones in overseas expansion are also materializing. The company is pursuing a partnership with a leading Japanese pharmaceutical and healthcare enterprise, and is currently in the stage of fine-tuning detailed terms to execute a thrombin supply agreement. Reyon Pharmaceutical's thrombin is slated to be applied to the partner company's new hemostatic product lines. This marks the first international market entry for Reyon Pharmaceutical's thrombin business, paving the way for intensified global market expansion moving forward.
An official from Reyon Pharmaceutical stated, "While the thrombin and hemostatic agent business recorded a revenue of approximately 2.5 billion KRW as of last year, we anticipate significant tailwinds from the rapid growth of localized hemostats." The official added, "Leveraging our monopolistic position in the domestic thrombin market, we will expand collaborations with various partners and increase the supply of our proprietary products."
The official further emphasized, "Once the thrombin and hemostatic agent business establishes itself as a reliable cash cow for Reyon Pharmaceutical, it will add substantial momentum to our top-line growth. This carries profound significance as it secures yet another growth engine—thrombin—on top of the continuous growth of our chemical drug business and the robust potential of our novel drug pipeline."
