POSCO DAEWOO has signed a deal with two medical companies to enter the dry eye syndrome treatment business.

 

The nation's largest trading company said Thursday it had signed a contract with Green Cross Medical Science and BM Biotechnology. Under the deal, the company will provide Green Cross Medical Science with BM Biotechnology's wearable devices to treat the syndrome. Green Cross Medical Science will sell the device through pharmacies and online shopping outlets.

 

POSCO DAEWOO and Green Cross Medical Science will work together to sell the device in overseas markets.

 

BM Biotechnology, established in 2008, is one of the leading companies specializing in the syndrome and other eye diseases. Its patented technologies have been recognized by health authorities in South Korea, the United States and Europe.

 

"We will continue to support the growth of competitive small- and medium-sized companies," a POSCO DAEWOO official said.

 

According to data from British consultancy GlobalData, demand for dry eye syndrome treatment is rising in nine major markets, including the U.S., Japan, the European Union, China and India. Annual sales of related products are expected to rise to $4.6 billion in 2024 from $2.2 billion in 2014.