Boryung Pharmaceutical Acquires Zyprexa, schizophrenia Drug from Eli Lilly

Boryung Pharmaceutical has taken over Zyprexa from Eli Lilly and Company in a brand legacy acquisition. (Photos: Boryung Pharmaceutical)

Boryung Pharmaceutical has struck an agreement to acquire Zyprexa (olanzapine), a drug which treats schizophrenia, from Eli Lilly and Company.

The deal will allow Boryung Pharmaceutical to obtain all sales rights for Zyprexa in Korea.

Zyprexa, developed by Eli Lilly, made its debut in 1996. It has become the most prescribed schizophrenia treatment medicine.

Zyprexa, efficacious for treating schizophrenia and bipolar disorder, contains dopamine, a chemical substance that controls imbalance in mind and sentiments of the brain.

The drug market survey firm IQVIA reported that Zyprexa ranked first with about 50 percent share in the Korean olanzapine market by posting about 14 billion won in sales last year.

The latest agreement is part of the legacy brands acquisition, announced by Boryung Pharmaceutical, while raising 98.5 billion won in capital.

The legacy acquisition is designed to take over legacy brands to maintain certain levels of sales and market share based on royalties after patents expire.

In May 2020, Boryung Pharmaceutical acquired the rights to sell Zemzar, an anti-cancer chemotherapy drug, from Lilly to top the Korean anti-cancer drug market.

Boryung Pharmaceutical, which acquired Zyprexa in the second legacy brand acquisition following Zemzar, plans to further ramp up the central nervous system (CNS) treatment business.

Boryung Pharmaceutical has strengthened the CNS treatment business based on its portfolio: Buspar, a prescription medicine used to treat symptoms of anxiety disorders; Projaz, an antidepressant; and Strattera, a drug to treat attention-deficit hyperactivity disorder (ADHD).

Boryung Pharmaceutical's family brands, including its flagship hypertension drug Kanarb.

Boryung Pharmaceutical aims to chalk up 50 billion won in sales in the CNS sector.

The pharmaceutical company plans to nurture the CNS into a specialized one with a competitive edge along with the anti-cancer segment.

Boryung Pharmaceutical President Chang Doo-hyun said, “Acquiring Zyprexa has laid an opportunity to make a leap forward in the CNS treatment business.”

President Chang added that Boryung Pharmaceutical is considering acquiring many legacy brands whose clinical values are recognized in Korea and abroad so that they can contribute to its growth.