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PharmaResearch Conducts Non-face-to-face Contract Ceremony for Supply …

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Date21-02-03 14:54 Number of views241

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[Press Release]

PharmaResearch Conducts Non-face-to-face Contract Ceremony for Supply of Hemorrhoids Cream

 

PharmaResearch Products (CEO Kang Ki-Seock and Kim Shin-Kyu) announced on the 15th that they have signed an exclusive domestic supply contract with New.Fa.Dem, Italy, for ‘Antrolin cream (tentative name)’.

 

Kang Ki-Seock, CEO of PharmaResearch, Arturo De Meo, CEO of New.Fa.Dem, and others attended the contract ceremony on the 10th to celebrate after signing through a video call.

 

Founded in 1939 in Italy, New.Fa.Dem is a pharmaceutical company that produces and distributes medicines, medical devices, and cosmetics through its own research and development.

 

The supply contract signed by the two companies is worth about $5 million (about 5.4 billion won), and through the contract, PharmaResearch will enter the hemorrhoids drug market.

 

Antrolin Cream’ is a specialized hemorrhoids medicine with mix of Nifedipine and Lidocaine complexes that can be treated effectively for postoperative pain management and symptom mitigation purposes. Products are currently under approval process and will be supplied to South Korean markets in the second half of 2021.

 

The PharmaResearch Products official said, "If hemorrhoids are left unattended for a long time, they have a significant impact on the quality of life, which is enough to be carried out by surgery. This contract will be a good opportunity for prescription drugs with fewer side effects and excellent medicinal effects to be supplied to the domestic market. We will continue to expand our business to areas that help improve the quality of life of patients."

 

Meanwhile, according to the Health Insurance Review and Assessment Service, the number of hemorrhoids patients in Korea continued to increase from 619,000 in 2016 to 640,000 in 2019. In addition, the amount of medical expenses in 2019 amounted to 247.9 billion won, with 430,000 out of 640,000 patients receiving outpatient treatment through medical institutions at parliamentary level.