SEOUL, KOREA - Huons announced on June 3 that it signed a deal worth $23.82 million with Iran’s Koushan Pharmed to export eye wash drops at the 2014 Bio Medical Korea which closed its curtain on May 30.
Under the terms of the deal, Huons will export two types of eye wash drops—a newly modified drug to treat xerophthalmia and non-preservative artificial tears. The two parties agreed to release these medical products within the first quarter of 2017 after acquiring approval from the authorities in Iran.
The amount of exports is valued at $23.82 million, including $22.19 million for the modified drug to care for xerophthalmia and $1.63 million for the artificial tears.
Koushan Pharmed is a large pharmaceutical company, ranking within top-ten drug companies in Iran. With this deal, Huons will be able to create the presence in Iran for the first time in its history. At present, Huons is engaged in exports of about 30 kinds of medical items to Yemen.