12 October 2017 | News
IMS’s recent report suggest that Southeast Asia’s six major countries – Singapore, Malaysia, the Philippines, Thailand, and Vietnam – have a combined $1.1 billion antihypertensive drug market
After launching Karnab, South Korean drug major, Boryung Pharmaceuticals has joined hands again with Zuellig Pharma to sell its antihypertensive combination drugs Dukarb(ingredient: fimasartan/amlodipine) and Tuvero(ingredient: fimasartan/rosuvastatin) in Southeast Asian countries
In a recent public filing, the company said that it concluded an exclusive deal with Zanovex, distributor of multinational pharmaceutical company Zuellig Pharma to sell the high blood pressure treating drugs worth $59.76 million, with a licensing fee of $1.5 million, in Southeast Asia.
According to Boryung, the sale will start in six countries where the first license was granted -- the Philippines, Malaysia, Singapore, Indonesia, Thailand, and Vietnam. It will get the second line of licenses in other countries, including Hong Kong, Macao, Myanmar, Cambodia, and Brunei.
Earlier in 2015, Boryung and Zuellig to supply karnab in SE Asian countries. Next year, the two sides also inked a licensing deal to sell Kanarb Plus (ingredient: fimasartan/hydrochlorothiazide) in the region.
The current deal, will be automatically renewed every two years, but it can expire if the Korean firm fails to achieve 80 percent of the sales goal for two consecutive years.
Mr Choi Tae-hong, CEO of Boryung Pharmaceutical, said, “Through the partnership with Zuellig Pharma over the sales of all Kanarb family drugs, we have gained a momentum to pitch our brand to the top in Southeast Asia. Our strong partnership will not only promote our products but enhance the two companies’ brand values.”
The recent deal over Dukarb and Tuvero will complete the sales of all Kanarb-related drugs in Southeast Asia. Their licensing agreements in the region amount to $218.72 million.
IMS’s recent report suggest that Southeast Asia’s six major countries – Singapore, Malaysia, the Philippines, Thailand, and Vietnam – have a combined $1.1 billion antihypertensive drug market. Among them, Thailand and the Philippines, in particular, are seeing a rapid growth in antihypertensive treatment market.