Boryung Pharmaceuticals’ Kanarb, a new drug that treats blood hypertension, has seen its export contracts surpass 400 billion won.
Boryung Pharmaceuticals’ signing of a 30 billion won licensing deal involving Central and South America, including Mexico, has pushed the value of contracts the pharmaceutical company has so far signed to about 415 billion won. It is the highest-ever amount a homegrown drug has reaped.
Boryung Pharmaceuticals signed a $27.23 million (30 billion won) agreement with Stendhal International to export amlodipine complex “Dukarb” and hyperlipidemia complex “Tuvero” worth to 25 Central and South American countries. Dukrab is an addition of a substance for treating blood hypertension to the conventional Karnarb, while Tuvero is an addition of a substance for curing hyperlipidemia to the Kanarb.
The number of countries in which Kanarb products are on the market have increased from 29 to 41.
Boryung Pharmaceuticals will receive $3.5 million in royalties for the license-out from Stendhal International, which will have the exclusive right to market Dukarb and Tuvero for eight years.
Stendhal International has maintained a business partnership with Boryung Pharmaceuticals by marketing the Kanarb Plus in 13 Central and South American countries, including Mexico and Ecuador, since 2011. Stendhal International has agreed to sell the Kanarb and Kanarb Plus in an additional 12 countries.
The Kanarb, which made its debut in 2011, is the 14th homegrown drug in Korea. The Kanarb raked in 10 billion won in sales in 2011 when it was released. Boryung Pharmaceuticals saw the new drug’s sales surge to 34 billion won in 2015, the highest amount among homegrown new drugs at the time.
Boryung Pharmaceuticals has released Kanarb mixtures to create added value for the new drug, business sources said.
Boryung Pharmaceuticals plans to enter such advanced jurisdictions as Europe and Japan. The Korean pharmaceutical company signed an agreement on joint development with the German pharmaceutical company AET. To tap the European market, Boryung Pharmaceuticals is performing a clinical test on the elderly and those with severe blood hypertension.
Boryung Pharmaceuticals President Choi Tae-hong said, “We’ll hit the accelerator to help such mixtures as Kanarb Plus, Dukarb and Tubero explore overseas markets based on market trust we’ve accumulated through the Kanarb.”
The Kanarb is hoping that success in Central and South American countries leads to entry into advanced countries, so local sales and marketing activities will be reinforced, he added.
Kanarb is an ARB medicine that helps patients control high blood pressure. Kanarb Plus is a combination drug that can also treat edema in people with congestive heart failure.
Kanarb is an ARB-class drug, which is the most-used among anti-hypertension drug. The Korea Food and Drug Administration (KFDA) approved it on Sept. 9, 2010 for its safety and significant effect in decreasing blood pressure for those patients with hypertension.
Kanarb not only embraces the merits of existing ABR-class drugs, but provides solutions to angiotensin converting enzyme (ACE)-class drugs’ side effects, such as coughs and edemas, and t also employs technology to overcome lower efficacy.