The pharmaceutical market of Latin America is growing rapidly at 10-13 percent annually. (image: A fresh fruit stand in Mexico City by Photography.mojado.com/creative commons)
SEOUL, Aug. 30 (Korea Bizwire) – Boryung Pharmaceutical Company’s proprietary hypertension pill Kanarb finally made its way to Mexico, the first occasion to be sold in overseas market, in the company’s history.
Boryung announced on August 28 that it has successfully shipped the first batch of the new drug Kanarb to Mexico after receiving approval from the Mexican Federal Commission for the Protection against Sanitary Risk. It was the first outcome of its effort to export the pills after signing a license-out contract with Mexican company Stendhal for distributing the pills in 13 Latin American countries.
Boryung’s Kanarb will be prescribed to Mexican hypertension patients in the name of Arahkor meaning “ARB from Korea.” Boryung and Stendhal have been promoting pre-marketing of the new pills since July last year.
According to Boryung, its results of clinical trials for the approval held in Mexico were positive. The pills showed strong effectiveness in reducing blood pressure both in diastolic and systolic periods. With its strong blood pressure dropping effects, the blood pressure of the patients fell to the targeted level after taking the pills in just for four week.
Currently, there are more than 21 million hypertensive patients in Mexico and a third of Venezuelans are suffering from the chronic diseases including hypertension.
Boryung’s Kanarb will be prescribed to Mexican hypertension patients in the name of Arahkor meaning “ARB from Korea.” (image: Boryung Pharmaceutical)
Especially, the pharmaceutical market of Latin America is growing rapidly at 10-13 percent annually, more than two times higher than the world’s average of 5.1 percent. The markets of Mexico and Brazil, the main target markets of Kanarb, account for 57 percent of the market share in the total pharmaceutical market in Latin America.
Choi Tae-hong, CEO of Boyrung Pharmaceutical, said, “With the first shipment of Kanarb to Mexico as a momentum, we will try to advance into other 12 countries in Latin America as well as China and Russia and try to be on the fast track by making Kanarb as a global pill vying with the world renowned new drugs.”
By John Choi (johnchoi@koreabizwire.com)
