Successful Demonstration of Bioequivalence only by Pharvis and Hanall, with “Albis” Generic
Consignment Contract with Green Cross, Yuhan, and Whanin Pharm
Hanall Biopharma (CEO Kim Seong-uk and CEO Park Seung-uk) has announced to launch a peptic ulcer drug “Wibis Tab” on December 1st.
Launched by Hanall Biopharma, “Wibis Tab” is a generic drug of Albis (Daewoong Pharmaceutical), a peptic ulcer drug. The original drug Albis of Daewoong Pharmaceutical is a big shot to that took 60 billion KRW of sales at the peptic ulcer drug market in the last year. Though many pharmaceutical companies have tried to develop generic drugs of it, since the tablet is made of three components, other companies faced difficulties, and only Pharvis Korea and Hanall Biopharma have demonstrated bioequivalence successfully.
To maximize the sales of “Wibis Tab,” Hanall Biopharma has concluded the consignment contract for supply of product with Green Cross, Yuhan, and Whanin Pharmaceutical, and these companies have been approved for consignment production. Besides the direct sales by Hanall, large pharmaceutical corporations are now selling this product, and thus Hanall has obtained the stable sales.
One of the staffs of Hanall Biopharma has explained, “To fulfill the demand for “Wibis Tab” and the composite drug “HL040” for hypertension and hyperlipidemia, which is waiting for the approval by the Ministry of Food and Drug Safety after the completion of clinical trial phase 3, we have invested about 4 billion KRW last year to complete the construction of exclusive plant for annual production of 600 million tablets and established the long-term strategies. Since “Wibis Tab” is one of the big shots in the 60 billion KRW market per year, we are expecting about 20 billion KRW of sales in the third year of sales from both direct sales and consignment sales.”