[Edaily Reporter NA EUN-KYUNG ] BukwangPharmaceutical(003000)announced on the 29th that it has shipped its first contract manufacturing (CMO) pharmaceutical product in collaboration with UNION KOREA PHARM CO.,Ltd(080720), marking the full-scale launch of production cooperation between the two companies.

BukwangPharmaceutical shipped its first batch of the over-the-counter drug “Complex Pazaim Tablets” (active ingredient: pancreatin), whose production it had outsourced to UNION KOREA PHARM CO.,Ltd, on the 26th. Complex Pazaim Tablets are a gastrointestinal medication used to treat symptoms such as abdominal bloating caused by indigestion and loss of appetite.

In addition, “Hard Chewable Tablets” (active ingredient: calcium carbonate) and “Hard Chewable Easy Tablets”—over-the-counter medications for thyroid and endocrine conditions—are also scheduled to be produced by UNION KOREA PHARM CO.,Ltd and shipped starting in August.

An official from BukwangPharmaceutical stated, “The Composite Pazaim Tablets were previously outsourced to external manufacturers due to a lack of production capacity,” adding, “Going forward, we plan to produce the entire volume at UNION KOREA PHARM CO.,Ltd, and we intend to gradually entrust the production of additional products to them within this year.”

The spokesperson added, “Starting with the production of BukwangPharmaceutical’s products, UNION KOREA PHARM CO.,Ltd is expanding its contract manufacturing (CMO) business to improve its financial performance,” noting, “We are currently discussing contract manufacturing partnerships with several pharmaceutical companies.”

Meanwhile, UNION KOREA PHARM CO.,Ltd’s rehabilitation proceedings have entered their final stages. The company had originally planned to hold an extraordinary general meeting of shareholders on the 23rd to address the appointment and dismissal of executives, but postponed the meeting to July 21 due to delays in the electronic registration process for shareholders who converted their debt into equity.

An official from BukwangPharmaceutical said, “At this point, only the procedures to conclude the rehabilitation process remain,” adding, “The acquisition process was effectively finalized on May 28—the day after the balance of the purchase price was paid—when the capital increase took effect.”

The spokesperson continued, “The normalization plan following the acquisition of UNION KOREA PHARM CO.,Ltd is proceeding without a hitch,” adding, “We will faithfully comply with the court’s supervision procedures while simultaneously working to restore normal business operations as soon as possible, leveraging the synergies between the two companies.”