Glycorex is since long well established in Europe, accounting for more than 80 percent of the sales with Germany as the company’s largest single market. For the European market, Glycorex sells directly, partly through its own representation in the German-speaking countries and Spain, as well as through sales staff based at its Swedish head office in Lund.
For the European market, the strategy is to continue and expand direct sales of the company’s products. Although the cost is higher than sales through distributors, it provides advantages in terms of higher margins and closer contact with customers as well as better control over the sales process.
In markets outside Europe, the strategy is mainly to sell through distributors. Glycorex is represented by distributors in Chile, Hong Kong, India, Israel, Mexico, Qatar, Singapore, South Africa, Thailand and Turkey. Working through distributors in markets outside Europe means faster establishment and reduced risk. Sales to Australia and Canada and some other countries outside Europe are handled directly by the commercial team in Lund.
Glycorex places great focus on meeting customers through visits to transplant and transfusion clinics, as well as scientific conferences, both globally and locally. Another important success factor is the product training that the company’s specialists provide to both new and existing customers.
Accelerated growth through geographical expansion and new products
Glycorex aims for accelerated growth in India, Mexico and Turkey, countries with the greatest growth potential for kidney transplants from living donors. For the growth markets India, Mexico and Turkey alone, the estimated annual potential is between 125 and 185 million Swedish Kronor for Glycosorb® ABO.
The US is the world’s largest market for kidney transplants with an estimated annual potential of 120-160 million Swedish Kronor for Glycosorb® ABO. The new national targets of doubling the number of kidney transplants over the next decade to reduce increasing costs of dialysis, and the fact that the current system for pairing donors with recipients is not effective, make a launch in the US attractive. For a successful US commercialization, in addition to regulatory approval from the FDA, Glycosorb® ABO needs to be included in cost reimbursement systems. Furthermore, local studies are important and Glycorex has already contacts with hospitals in the US who are interested in assisting in this area. The registration work, which has been delayed due to the COVID-19 pandemic, will become a priority area going forward.
The company’s new UBP product can easily be used to produce universal blood plasma. With the UBP product, blood banks and transfusion clinics get the possibility to ensure availability of the right blood plasma, thereby increasing the safety of blood transfusions as well as improving warehousing and logistics. The UBP product was CE-marked in June 2020 and a launch has started with the strategy of allowing selected key customers to start using the product, laying the foundation for a continued successful and broad introduction.
Fully owned production facility
All production takes place within Glycorex own operations and through the acquisition of Glycoprobe AB in 2008, the company has full control over the production of active components for the company’s main products, patents and production technology. Altogether this enables the development of new medical technology products. Glycorex works continuously to streamline and scale up production capacity. This is important not only for Glycosorb® ABO, but also for the new UBP product. The company currently estimates that production can be ramped up without major cost increases.
Glycorex Transplantation’s quality management system is certified according to ISO13485:2016 and annual inspections are carried out by Intertek.