Boryung Pharmaceutical said that it has acquired all local rights, including sales and licensing, concerning Lilly's schizophrenia treatment Zyprexa (ingredient name: olanzapine).

Zyprexa, launched in 1996, is the most prescribed treatment for schizophrenia.

Hospitals use the drug to treat schizophrenia and bipolar disorder, and medicine plays a role in regulating dopamine imbalance. This chemical regulates the mind and emotions in the brain, the company said. The drug also has a 50 percent share in the Korean market. Data from IQVIA, a drug market research company, recorded about 14 billion won ($11.8 million) in sales in 2020.

Boryung said the contract with Lilly is part of its legacy brands acquisition (LBA) strategy announced in July after it increased capital by 98.5 billion won.

LBA refers to the acquisition of original drugs that can maintain a considerable sales volume and market share based on high brand loyalty even after the patent expires, it said. The Zyprexa contract is the second acquisition under the LBA strategy, following Lilly’s anticancer drug, Gemzar, in May last year.

With the acquisition of Zyprexa rights, Boryung plans to further strengthen its central nervous system (CNS) treatment business by expanding its mental disease drug portfolio.

The company has strengthened CNS business capabilities based on our product portfolios, such as Buspar (anxiety disorders treatment), Prozac (depression treatment), and Strattera (behavioral disorder). To reach 50 billion won in annual sales in the CNS sector by 2025, it will continue promoting it as a business field with technological competitiveness along with its anticancer drug business, according to Boryung.

"The acquisition of Zyprexa has provided us with an opportunity for a new leap forward in the CNS treatment business." Boryung CEO Chang Doo-hyun said. “To keep acquiring products that can contribute to the growth of Boryung, we are reviewing several products leading the market with globally recognized clinical value.”