Features Partner Sites Information LinkXpress
Sign In
Advertise with Us
RANDOX LABORATORIES

Events

06 Jun 2016 - 09 Jun 2016
22 Jun 2016 - 24 Jun 2016
04 Jul 2016 - 06 Jul 2016

Teva Establishes Venture to Enter Korean Drugs Market

By BiotechDaily International staff writers
Posted on 31 Dec 2012
Print article
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



Print article

Channels

Genomics/Proteomics

view channel
Image: Follicular helper T-cells (TFH cells, shown in blue) play a crucial role in the maturation of antibody-producing B-cells (shown in green). Activated B-cells give rise germinal centers (shown in red), where mature B-cells proliferate and produce highly specific antibodies against pathogens. Top left: normal germinal center in a mouse tonsil. All others: Germinal centers fail to form when the interaction between ICOS and TBK1 is interrupted (Photo courtesy of Dr. Kok-Fai Kong, La Jolla Institute for Allergy and Immunology).

Molecular Pathway Controlling High-affinity Antibody Production Identified

A molecular pathway has been identified that controls formation of follicular helper T-cells (TFH cells) germinal centers and production of high-affinity antibodies through interaction with the inducible... Read more

Drug Discovery

view channel

Experimental Small-Molecule Anticancer Drug Blocks RAS-binding Domains

The experimental small-molecule anticancer drug rigosertib was shown to block tumor growth by acting as an RAS-mimetic and interacting with the RAS binding domains of RAF kinases, resulting in their inability to bind to RAS, which inhibited the RAS-RAF-MEK pathway. Oncogenic activation of RAS genes due to point mutations... Read more

Biochemistry

view channel
Image: A space-filling model of the anticonvulsant drug carbamazepine (Photo courtesy of Wikimedia Commons).

Wastewater May Contaminate Crops with Potentially Dangerous Pharmaceuticals

Reclaimed wastewater used to irrigate crops is contaminated with pharmaceutical residues that can be detected in the urine of those who consumed such produce. Investigators at the Hebrew University... Read more

Lab Technologies

view channel

Huge Modifiable Biomedical Database to Be Available on the Wikidata Site

Genome researchers are exploiting the power of the open Internet community Wikipedia database to create a comprehensive resource for geneticists, molecular biologists, and other interested life scientists. While efficiency in generating scientific data improves almost daily, applying meaningful relationships between... Read more
Copyright © 2000-2016 Globetech Media. All rights reserved.