Daewoong - AZ Targets Asian Market with Crezet

Indonesia and four other countries agreed to promote exports

From the third row on the left, Woo Jung-ja, executive director of AstraZeneca Korea, Kim Yoon-kyung, CEO of AstraZeneca Korea, CEO Kim Sang-pyo, CEO of Daewoong, and Park Sung-soo, general vice president of Daewoong

Daewoong Pharmaceutical, along with AstraZeneca Korea, is pushing to target the Asian market for Crezet, a hyperlipidemia treatment.

 

Daewoong Pharmaceutical signed a cooperative contract with AstraZeneca Korea on the 27th and agreed to push for Crezet exports to Indonesia, Thailand, the Philippines, and Malaysia.

 

Crezet is a composite of Rosuvastatin Calcium and Ezetimbe.

 

The signing ceremony was held at AstraZeneca headquarters in Gangnam-gu, Seoul.

 

Jeon Seung-ho, CEO of Daewoong Pharmaceutical, Park Sung-soo, vice president of Daewoong Pharmaceutical, and Kim Sang-pyo, CEO of AstraZeneca Korea, Jo Feng, president of AstraZeneca Asia, and presidents of Indonesia, Thailand, Philippines, and Malaysia participated online.

 

With this contract, the two companies plan to apply for Crezet's permission in Thailand, the Philippines, and Malaysia next year, starting with Indonesia this year.

 

Daewoong will be in charge of obtaining permits, producing and exporting products, while AstraZeneca Korea will be in charge of distributing and selling products in the country.

 

The total hyperlipidemia market in four countries, including Indonesia, is about $622 million (about 750 billion won), and demand for complex drugs that have improved drug convenience is also steadily increasing.

 

Daewoong's own hyperlipidemia treatment Crezet is a Rosuvastatin Calcium and Ezetime complex that has an excellent effect on LDL-cholesterol drop, lipid level improvement, and delay in Atherosclerosis progression.

 

Phase 3 studies have proven excellent safety, and it is highly convenient to take medicine because it can be taken once a day regardless of meals.

 

Jo Feng, president of AstraZeneca Asia, said, "Based on the expertise, leadership, and partnership with Daewoong in the Asian chronic disease treatment market, we will cooperate to deliver good options for patients to maintain a better quality of life." Kim Sang-pyo, CEO of AstraZeneca Korea, said, "AstraZeneca has continued to invest to grow together through cooperation with domestic partners striving to promote health care.

 

This agreement will mark a new milestone in our partnership with Daewoong Pharmaceutical, which has continued to grow in the domestic and Asian markets." Jeon Seung-ho, CEO of Daewoong Pharmaceutical, said, "Based on Daewoong Pharmaceutical's excellent production and global licensing capabilities, we will advance Crezet to four Asian countries and develop it as a good opportunity for the two companies to cooperate in the global market beyond Korea."