Features | Partner Sites | Information | LinkXpress
Sign In
GLOBETECH PUBLISHING
GLOBETECH PUBLISHING
PZ HTL SA

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



Channels

Genomics/Proteomics

view channel
Image: Biopsy of small bowel showing celiac disease manifested by blunting of villi, crypt hyperplasia, and lymphocyte infiltration of crypts (Photo courtesy of Wikimedia Commons).

Reduced Elafin Levels Associated with Celiac Disease Bowel Inflammation

Levels of the enzyme elafin, an endogenous serine protease inhibitor, were lower in the small intestinal epithelium of patients with active celiac disease (CD) as compared to similar tissue from control patients.... Read more

Drug Discovery

view channel

Retinoic Acid Prevents Precancerous Breast Cells from Progressing to Full-Blown Cancer

Retinoic acid, a derivative of vitamin A, was found to prevent pre-cancerous breast cells from progressing to full-blown cancer but did not have any effect on breast tumor cells. Investigators at Thomas Jefferson University (Philadelphia, PA, USA) worked with a novel breast cancer model that had been developed by treating... Read more

Biochemistry

view channel

Mitochondrial Cause of Aging Can Be Reversed

Researchers have found a cause of aging in lab animals that can be reversed, possibly providing an avenue for new treatments for age-related diseases including type 2 diabetes, cancer, muscle wasting, and inflammatory diseases. The researchers plan to begin human trials late 2014. The study, which was published December... Read more

Therapeutics

view channel

Cytokine Identified That Causes Mucositis in Cancer Therapy Patients

The action of the cytokine interleukin 1-beta (IL-1beta) has been found to underlie the onset of mucositis, a common, severe side effect of chemotherapy and irradiation of cancer patients. Mucositis occurs as a result of cell death in reaction to chemo- or radiotherapy. The mucosal lining of the mouth becomes thin, may... Read more
 
Copyright © 2000-2014 Globetech Media. All rights reserved.