Hanmi pharmaceutical enters into agreement with Mongolian firm MEIC over supply of OTC products
Hanmi's 13 OTC products including 'Ten Ten' Multi-Vitamins for children, NSAID 'Dexibuprofen' will be marketed in the Mongolian market.
Hanmi (CEO Gwan Sun Lee) has signed the Supply Contract for 13 OTC products with leading Mongolian pharmaceutical company MEIC.
Products for licensing include ‘Ten Ten’, ‘Dexibuprofen ER & Syrup’,'Medilac’ Probiotics for Children, ‘CeCe’ Multi-Vitamins, ‘Prebe’ Multi-Vitamins for Pregnant Women, and ‘Ferromax’ Antianemic Agent. It is anticipated that the registration process to be complete by the second half of 2012 and export sales to be worth USD 15 million over three years.
Hanmi official points out that “Mongolian Pharmaceutical Market is experiencing high import growth and preference of Korea Pharmaceutical products are also growing.” He added that Hanmi and MEIC will discuss on expanding the collaboration for Hanmi’s prescription products in the future. Founded in 1923, “MEIC” is the largest distributor of medicine in Mongolia having 20% market share in the region. It consists of 21 operation offices with about 400 employees.
MEIC is associated with over 60 different suppliers and manufacturers in Mongolia from 20 different countries, including names such as Novartis Pharma, GlaxoSmithKline, Hoffman La Roche, Abbott Products, Novo Nordisk, Bayer Health Care and Nycomed. Forecasted sales of USD 15 million over 3 years Mongolia leading pharmaceutical company MEIC Next step: Hanmi’s prescription products.
Source : 4-traders
Hanmi (CEO Gwan Sun Lee) has signed the Supply Contract for 13 OTC products with leading Mongolian pharmaceutical company MEIC.
Products for licensing include ‘Ten Ten’, ‘Dexibuprofen ER & Syrup’,'Medilac’ Probiotics for Children, ‘CeCe’ Multi-Vitamins, ‘Prebe’ Multi-Vitamins for Pregnant Women, and ‘Ferromax’ Antianemic Agent. It is anticipated that the registration process to be complete by the second half of 2012 and export sales to be worth USD 15 million over three years.
Hanmi official points out that “Mongolian Pharmaceutical Market is experiencing high import growth and preference of Korea Pharmaceutical products are also growing.” He added that Hanmi and MEIC will discuss on expanding the collaboration for Hanmi’s prescription products in the future. Founded in 1923, “MEIC” is the largest distributor of medicine in Mongolia having 20% market share in the region. It consists of 21 operation offices with about 400 employees.
MEIC is associated with over 60 different suppliers and manufacturers in Mongolia from 20 different countries, including names such as Novartis Pharma, GlaxoSmithKline, Hoffman La Roche, Abbott Products, Novo Nordisk, Bayer Health Care and Nycomed. Forecasted sales of USD 15 million over 3 years Mongolia leading pharmaceutical company MEIC Next step: Hanmi’s prescription products.
Source : 4-traders
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