Features | Partner Sites | Information | LinkXpress
Sign In
JIB
BioConferenceLive
GLOBETECH PUBLISHING

Teva Establishes Venture to Enter Korean Drugs Market

By BiotechDaily International staff writers
Posted on 31 Dec 2012
Teva Pharmaceutical Industries, the world's largest generic drug company, has entered into a joint venture with Handok Pharmaceuticals in an attempt to gain a foothold in the burgeoning Korean pharma market.

Under the terms of the joint venture, Teva will contribute its global resources, with responsibilities for manufacturing and supplying a wide range of affordable and innovative medicines, while Handok will handle sales and marketing, distribution, and regulatory affairs. Teva will hold a controlling 51% stake of the joint venture. While financial details were not disclosed, the market cap of Handok Pharmaceuticals is currently 184 billion won (USD 170 million). The business venture will enable patients to gain more access to pharmaceuticals, including therapies such as Teva’s multiple sclerosis treatment Copaxone and various branded generics.

“This is another significant step in our strategy to expand Teva’s presence in growing markets and excluding Japan, this is our first alliance in East Asia,” said Professor Itzhak Krinsky, head of Teva’s Japanese and Korean divisions. “By utilizing Teva’s broad portfolio, R&D capabilities and its global infrastructure and know-how coupled with Handok’s expertise and strong reputation in Korea, Teva and Handok plan to assume a prominent position in the Korean pharmaceutical market.”

“We are glad to open up new business opportunities through this business venture with Teva, which has a broad, unparalleled portfolio of innovative specialty therapeutics, generics, biosimilars and innovative medicines,” said Young-jin Kim, CEO of Handok Pharmaceuticals. “We expect this business venture to contribute greatly to the Korean pharmaceutical industry by supplying medicines at more affordable prices and providing innovative treatment solutions for CNS, respiratory, and women’s health.”

Handok Pharmaceuticals, founded in 1954, develops and sells both brand and over-the-counter (OTC) drugs, as well as medical devices, diagnostic reagents and vaccines. . The company jointly develops products with other companies in the research and development of oncology, cardiovascular, and central nervous system (CNS) disease treatments.

Related Links:

Teva Pharmaceutical Industries
Handok Pharmaceuticals



comments powered by Disqus

Channels

Genomics/Proteomics

view channel
Image: Microcomputed tomography images (top) and histology images (bottom) of the knees of mice fed a very high fat diet containing omega-3 fatty acid supplement (left) or only omega-6 fatty acids (right) after a knee injury. The omega-6 diet showed abnormal bone remodeling and calcified tissue formation in the joint (white arrow). The omega-6 diet also showed significant loss of cartilage (red staining, yellow arrowhead) and increased joint inflammation (Photo courtesy of Duke University).

Dietary Omega-3 Fatty Acids Moderate Severity of Osteoarthritis in a Mouse Model

Researchers working with an osteoarthritis (OA) obese mouse model found that the fat content of the animals' diet contributed more to the development or arrest of OA than did body weight.... Read more

Drug Discovery

view channel
Image: Molecular rendering of the crystal structure of parkin (Photo courtesy of Wikimedia Commons).

Cinnamon Feeding Blocks Development of Parkinson's Disease in Mouse Model

A team of neurological researchers has identified a molecular mechanism by which cinnamon acts to protect neurons from damage caused by Parkinson's disease (PD) in a mouse model of the syndrome.... Read more

Therapeutics

view channel

Vaccine Being Developed for Heart Disease Close to Reality

The world’s first vaccine for heart disease is becoming a possibility with researchers demonstrating significant arterial plaque reduction in concept testing in mice. Klaus Ley, MD, from the La Jolla Institute for Allergy and Immunology (LA Jolla, CA, USA), and a vascular immunology specialist, is leading the vaccine... Read more
 
Copyright © 2000-2014 Globetech Media. All rights reserved.