Published : Sept. 26, 2016 - 13:54
[THE INVESTOR] South Korea’s Boryung Pharmaceutical has signed a contract with Mexican firm Stendhal International to supply medicine for treating hypertension in South America, the firm said on Sept. 26.
The agreement is worth 30 billion won (US$27.1 million) -- which is 7.48 percent of the firm’s revenue in 2015. Boryung plans to gradually release more products in South America by 2024 via its partnership with Stendhal.
The Korean firm has been seeking to expand into more markets for its oral hypertension medication such as Dukarb and Tuvero.
The two are the firm’s mainstay products and belong to a class of medications called angiotensin II receptor antagonists, which is known to help lower blood pressure by fighting a chemical that causes blood vessels to tighten.
Prior to the agreement, Boryung had released its selection of other high blood pressure treatments such as Kanarb and Kanarb Plus in South America in 2011 and 2013, respectively.
By Jung Min-kyung (mkj1105@heraldcorp.com)