Daewoong Pharmaceutical inks contracts to export Caretropin, a liquid growth hormone product, and syringes to three countries

Daewoong Pharmaceutical inks contracts to export Caretropin, a liquid growth hormone product, and syringes to three countries - Daewoong Pharmaceutical is expected to rake in $2.7 million in exports to Georgia, Dominican Republic, and Hong Kong over the next 5 years - Caretropin export has expanded to 8 countries in just 3 months after its roll-out Daewoong Pharmaceutical Co.,Ltd(President: Lee Jong-wook) announced on May 26 that it signed contracts with MLC of Georgia, Pharmaceutical Technology of Dominican Republic, and GSGL of Hong Kong to export ‘Caretropin’, the nation’s first growth hormone product developed with indigenous technology, along with the dedicated syringes. Under those contracts, Daewoong Pharmaceutical will supply the Caretropins worth $2.7 million to those three countries over the next five years. Specifically, Daewoong Pharmaceutical inked the exclusive distribution contract with MLC of Georgia and GSGL of Hong Kong, and particularly penned an agreement to export the products even to Macao via GSGL of Hong Kong. As a result, Daewoong Pharmaceutical’s Caretropin will be marketed in Georgia and Dominican Republic by 2015 and Hong Kong and Macao by 2017. Caretropin, which targets pediatric or adult patients who have growth hormone deficiency, has been exported to 8 countries, including Iran, Ukraine, and Belarus in recognition of its excellent convenience and superior efficacy in only three years after its roll-out, and furthermore, is slated for export to India. Cha Yoon-gyeong, General Manager, Global Strategy Team II, Daewoong Pharmaceutical, said, “Caretropin has constantly attracted attention from overseas pharmaceutical companies for its convenience and superior efficacy since its launch. These contracts that we signed with the three countries will help pave the way for us to expand our reach into global market.” Caretropin syringe, a pen type fitted with reset button, is designed to ensure easy dose-setting and safety for patients, unlike the existing disposable growth hormone syringes. Additionally, this easy-to-use syringe can find applications in bio-medicines such as growth hormone or insulin which needs to be self-injected over the long-term.

The release as fetched from its publisher. daewoong.co.kr ↗