[THE INVESTOR] Daewoong Pharmaceutical has signed a 29 billion won (US$25 million) contract with Ibn Cina Drug Stores to supply six products including Ursa for sales in Jordan and Iraq, it announced on June 30.

The local partner will distribute Ursa, for liver function improvement; Orlostar, for high blood pressure and hyperlipidemia; Easyef for diabetic foot ulcer; Daewoong pitavastatin calcium tab, for hyperlipidemia; antibiotics Gomcephin; and vitamin supplement Roman C powder.

The pharmaceutical company entered the Middle Eastern market by launching growth hormone booster filler Caretropin in Iran in 2015 and is seeking to extend its market reach in the region, said vice chiarman Lee Jong-wook. 

By Hwang You-mee (glamazon@heraldcorp.com)