Zuellig Pharma reached an exclusive licensing agreement for Kanarb in 13 Southeast Asian countries with the Korean pharmaceutical company Boryung Pharmaceutical. It is the largest licensing agreement for the product anywhere in the world.
Zuellig Pharma will launch and market the anti-hypertensive drug Kanarb in 13 Southeast Asian countries, with particular focus on Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. In addition, both parties intend to conclude a licensing agreement for Kanarb combination drugs (diuretics, CCB, Rosuvastatin).
"Our partnership with Zuellig Pharma will be an important step to grow Kanarb into a global drug. Particularly, it is important to find a reliable and experienced partner with strong local presence in both Korea and the target markets. With its specialized commercialization teams and its well established distribution network, Zuellig Pharma is the right partner to develop the Asian market," said Tae-hong Choi, President of Boryung Pharmaceutical.
John Davison, CEO of Zuellig Pharma, commented that "This agreement shows how the extended capabilities of Zuellig Pharma in Asia can help develop markets for original manufacturers in Korea. The collaboration between our local unit and our regional team to bring innovative drugs to patients demonstrates our vision of bringing health to the community throughout Asia. We are very proud to now call Boryung our Partner."
This agreement will contribute to achieving the South Korean government's "Pharma 2020 Vision" of fostering one of the leading pharmaceutical industries in the world. The plan outlines the country's goals for further innovation by investing in drug development, clinical testing infrastructure and professional training, as well as supporting overseas expansion of local pharmaceutical companies.
About Boryung Pharmaceutical Co., Ltd.,
Established in 1963, Boryung Pharmaceutical is one of Korea's leading pharmaceutical manufacturers with sales revenue of KRW 360 billion in 2014, 1,000 employees and 500 sale representatives. The company focuses on anti-hypertensive drugs, anti-thrombosis drugs, anti-cancer drugs, gastrointestinal drugs and cephalosporin antibiotics drugs.
About Zuellig Pharma
Established in 1922, Zuellig Pharma is the leading healthcare services provider in Asia with operations in 14 countries, including South Korea. The company provides innovative solutions including distribution of pharmaceuticals, medical devices and clinical trial materials, sales and marketing outsourcing, patient-centered programs, payor solutions (third party administration services) and a full range of retail pharmacy services. Privately held with corporate offices in Hong Kong and Singapore, Zuellig Pharma employs 10,000 people and serves over 350,000 doctors, hospitals, pharmacies and clinics across Asia.