GC Green Cross Penetrates Varicella Vaccine 'Varicella' into the Vietnamese Market

[Financial News] GC Green Cross announced on the 16th that the varicella vaccine ‘Varicella’ has obtained product approval from the Drug Administration of Vietnam (DAV). In 2020, Varicella was approved domestically, and after domestic approval, it obtained WHO Prequalification (PQ) and is currently accelerating individual country approvals. It is a so-called 'two-track strategy' that combines bidding for international procurement organizations and entry into individual markets.
For this product approval, GC Green Cross conducted local clinical trials in Vietnam and demonstrated the safety and immunogenicity of the product. It means that it meets the quality standards that align with the recent regulatory strengthening trend of the Vietnamese Ministry of Health. Since the varicella vaccine is administered to children, the importance of quality certification is further emphasized.
GC Green Cross plans to focus on generating fixed annual sales through direct sales via local branches, considering the vaccine distribution structure centered on the private market in Vietnam.
The Vietnamese private vaccine market grew at an average annual rate of 32% from 2018 to 2021, and as of 2021, the varicella vaccine accounts for 10% of the approximately 300 million dollar private market. With the rapid growth in demand for private vaccinations, the vaccination rate is also steadily increasing.
Lee Jae-woo, head of the GC Green Cross Development Headquarters, said, “This product approval is a result that reflects a localization strategy beyond simple export and will serve as a bridgehead for the expansion of the Southeast Asian market,” and “We will strengthen the position of a trusted vaccine brand with clinical and quality levels that meet global standards.”
Meanwhile, Varicella is a live vaccine developed by GC Green Cross using the ‘MAV/06’ strain, characterized by high virus content and high yield. In particular, it is the world's first varicella vaccine produced without antibiotics through an aseptic process system.

vrdw88@fnnews.com Kang Jung-mo Reporter