[THE INVESTOR] Boryung Pharmaceutical announced on Sept. 26 that its high blood pressure treatment Kanarb is close to being approved for sale in Russia, Singapore and Malaysia.
“Kanarb is expected to be granted permission in Russia in October, and in Singapore and Malaysia within this year. The official launch will be in the first half of 2017,” said Choi Seong-won, head of global business at the South Korean pharmaceutical company at a press conference in Seoul.
The firm has partnered with Russia’s largest pharmaceutical company R-Pharm since 2013 and with Zuellig Pharma Asia Pacific since 2015 to expand in the respective markets.
The drug was introduced in 2011 after 18 years of research and development, and recorded US$10 million in sales in the same year. Since 2013, Kanarb has been selling in 41 countries, and the total value of exports reached US$375.3 million.
By Hwang You-mee (
glamazon@heraldcorp.com)
