Devising creative new ways to treat the same ailments is what has separated the wheat from the chaff when it comes to pharmaceutical companies. (Image: Kolon Pharmaceuticals)
SEOUL, Sept. 18 (Korea Bizwire) – Devising creative new ways to treat the same ailments is what has separated the wheat from the chaff when it comes to pharmaceutical companies.
According to American data services company IMS Health, Kolon Pharmaceuticals brought in 2.17 billion won in revenue from sales of the drug Apniben Q in the first half of the year, placing it as the market leader for drugs that treat stomatitis (generally denoting inflamed mouth). In comparison to typical stomatitis drugs, Apniben Q’s method of use is identical to dental mouthwash, earning the drug points for convenience from consumers.
The drug’s popularity with consumers was near immediate. Released into the market last October, Apniben Q overcame mainstay products from Dongkook Pharmaceuticals and Takeda Pharmaceutical Company within a year.
In comparison to typical stomatitis drugs, Apniben Q’s method of use is identical to dental mouthwash, earning the drug points for convenience from consumers. (Image: Kolon Pharmaceuticals)
A Kolon Pharmaceuticals official explained that consumers were enticed by the revolutionary method of use, and added that the company’s revenues grew significantly as people who avoided taking drugs due to various side effects and pain started to use Apniben Q.
Another company that has found success off the beaten track is Daewon Pharmaceuticals with its Cole Dae Won “squeeze” cold medicine. When it was first released it earned rave reviews for its portable design. Daily doses were put into stick containers and could be taken by ripping off the top and slurping.
Despite being overtaken by Kolon Pharmaceuticals in the stomatitis market, Dongkook Pharmaceuticals has not taken things lying down, releasing an oral administration hemorrhoids medicine with an aggressive marketing campaign.
Another company that has found success off the beaten track is Daewon Pharmaceutical with its Cole Dae Won “squeeze” cold medicine. (Image: Daewon Pharmaceutical)
Market reception has been encouraging, the company says. “Early signs are positive as there have been incidences like consumers placing direct calls to the company asking about the product,” a company representative stated with confidence.
Lina Jang (linajang@koreabizwire.com)
