THE KOREA ECONOMIC DAILY, GLOBAL EDITION

South Korea's Icure Pharmaceutical Incorporation announced on Tuesday that it signed a supply contract for the specialized local anesthetic lidocaine cataplasm with Guatemala's Servicio de Comercio Internacional.

Under the deal, Icure will deliver a total of $2.85 million worth of lidocaine cataplasm products over the next five years to Guatemala’s pharmaceutical company.

Icure's lidocaine cataplasm is applied directly to the affected area for convenient pain relief, utilizing a transdermal drug delivery system technology that allows the drug to penetrate continuously for 12 hours.

Icure specializes in the development and production of adhesive pharmaceuticals, such as patches, plasters, and cataplasms, based on this system technology.

Since receiving a special public listing for technology in 2018, Icure has been steadily preparing for overseas market entry, running a new factory in Wanju County, North Jeolla Province.

"I am pleased to have signed a supply contract for lidocaine cataplasm through swift negotiations with Servicio, discovered during the CPHI Barcelona in Oct. 2023,"  Icure CEO Lee Yeong-seok expressed his satisfaction with the latest contract.

Write to Yoo-Rim Kim at youforest@hankyung.com