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‘Nuranta’(Antacid) by Daewoong Pharmaceutical Co, Ltd advances into China
Day : 2011-04-12

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- Sales agreement with Invida, the largest pharmaceutical distributor in the Asia-Pacific region 

- 50 billion won in sales expected in the next 5 years, with co-promotion right in China

‘Nuranta,’ an antacid by Daewoong Pharmaceutical Co., Ltd, has been granted sales permission in China, and a sales agreement has been made with the largest pharmaceutical distributor in the Asia-Pacific region to advance into the Chinese antacids market, which has 100 billion in sales annually. 

Daewoong Pharmaceutical Co., Ltd (President Lee Jong Wook) announced on the 11th that the company has "set up a sales agreement with Invida, which has more than 4,000 specialists in selling medicine in 13 Asia-Pacific countries, including India and China." Sales of Nuranta, which will be sold the second half of this year in China, are expected to reach 40 billion won in the next 5 years, and 20 billion won annually after 2016. 

Invida is widely known as the best medicine distribution company in the Asia-Pacific region, in alliance with Astra Zeneca, Roche and Sanofi. Daewoong acquired the co-promotion right for Nuranta in China in this agreement, and plans to maximize sales through direct marketing.

Lee Jong Wook, President of Daewoong said "our partner Invida is excellent in market analysis, strategy and planning, with rich information and expertise regarding the Chinese distribution system. This agreement helps us to advance into the Chinese market."
The antacids market in China is estimated to have a size of about 110 billion won annually, and has beengrowing continually. Seo Jong Won, director of the global business headquarters of Daewoong Pharmaceutical, is confident that while the competition is severe in that market, Nuranta is highly competitive, as it has provenits safety and has the unique point of its orange taste since its introduction in 2001.

Actually, Nuranta acquired the highest score for taste and scent in a preference test among 5 antacids products held in China last year. A spokesperson for Daewoong Pharmaceutical said "the preference of the Chinese market shall be helpful in convenience for taking medicine, and it has the merits of minimizing side-effects such as constipation and diarrhea thanks to a 1:1 mix between aluminum and magnesium."

Meanwhile, Daewoong Pharmaceutical achieved 100 billion sales in China last year, a 27% increase over the previous year. 6 products were approved for sale in China, and approvals are in process for 23 others. "Bearse together with Ursa and Nuranta shall be approved to sell in China, which may increase the brand value of Daewoong in Chinese marketing."

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