After Primary Export of One Million USD, Secondary Supply Expected in the Beginning of Next Year
Main Entrance of Overseas Market with New Advanced Medicine from its Own Technology
On 9th, Hanall Bio Pharma (CEO Kim Seong-uk and CEO Park Seung-guk) has announced the conclusion of 1-million USD contract to export “Glucodown Tab OR,” a new advanced diabetic medicine, to Koushan Pharmed, the pharmaceutical company in Iran.
Concluded the export and supply contract with Hanall, Koushan Pharmed, established in 1995, is a pharmaceutical company in Iran to have the sales of 30 billion KRW. Hanall has concluded the contract for the primary export of “Glucodown Tab OR” worth one million USD to Koushan Pharmed by January 2016, and it will conclude the secondary supply contract in the beginning of 2016 by expanding the size of export. Moreover, the registration process of the 2-chamber fluid “PN Mix Peri Injection” and “Linezolid” developed by Hanall will begin in this year, and total three products will be exported from 2016.
“Glucodown Tab OR” on this contract is the first new advanced medicine developed by Hanall in 2007, and it is a product modified with the DDS (Drug Delivery System) technology to maintain medicinal effect of metformin, a diabetic medicine, for 24 hours within a body. It is noteworthy that this technology has improved convenience of patients by leading patients to take medicine only once a day instead of three times a day. Especially, a burden of taking a conventional metformin tablet (a pill for long-lasting medicine effect), or a size of pill, has been significantly reduced through the unique matrix technique of Hanall for easy dosage.
Hanall has received the DDS Award by the Korean Society of Pharmaceutical Sciences and Technology with “Glucodown Tab OR” in 2006, and in 2012, it has received the certificate of GH Mark (Goods of Health) for the first time among metformin medicines by the Korea Health Industry Development Institute.
Since its launching in 2007, “Glucodown Tab OR” has been growing over 15% every year. After the product has achieved the sales of 6.1 billion KRW in 2012, the product has achieved the annual sales of 6 billion KRW to be the trusty product of Hanall. Hanall is expecting to have the domestic sales of 7 billion KRW from “Glucodown Tab OR” in this year.
One of the staffs of Hanall has said, “We already shipped the primary supply of ‘Glucodown Tab OR’ to Koushan Pharmed. This contract is meaningful as the advanced medicine developed with Hanall technology instead of generic medicine has entered into the overseas market. As foreign markets are interested in this Glucodown Tab OR, we will actively explore the overseas business line from this contract to make this product as the core product to bring more than 10 billion KRW of annual sales from export.”