Jeil Pharmaceutical said Monday it has signed an exclusive distribution agreement with Novartis Korea for the sale and supply of Novartis' nine drugs (eye drops) for glaucoma and conjunctivitis.

This marks Jeil's inaugural venture into the ophthalmic field. Beginning January 2024, the company aims to establish a strong presence in eye disease treatment, with a focus on glaucoma and conjunctivitis.

Under the agreement, Jeil will exclusively supply and distribute six glaucoma and three conjunctivitis treatments from Novartis Korea.

The nine treatments, including Elazop, Simbrinza, Azopt, Travatan, Izba, and Duotrav for ocular hypertension and open-angle glaucoma, and Pazeo, Pataday, and Patanol for allergic conjunctivitis, collectively generated 25 billion won ($19 million) in sales in Korea last year, according to IQVIA, a clinical research firm.

Specifically, Elazop stands out as a flagship treatment, holding a 14 percent share in the glaucoma eye drop market. It consistently achieves annual sales exceeding 11 billion won and is widely prescribed in the global market.

"We are very pleased to partner with Novartis, a global healthcare company," said Jeil Pharmaceutical CEO Sung Suk-je. "We will focus on making our excellent eye disease treatments, which are already proven in the global market, more widely available and contribute to improving the quality of life of patients."

"In line with our new direction as a pharmaceutical company focused on innovative medicines, we are transferring the exclusive distribution rights for certain ophthalmic treatments in Korea to Jeil Pharmaceutical," said Yoo Byung-jae, General Manager of Novartis Korea. 

"Novartis will focus on the sales of retinal disease treatments, and glaucoma and allergy treatments through our partnership with Jeil Pharmaceutical, which has excellent competitiveness in hospitals, and will strive to provide patients and healthcare providers with a stable supply of ophthalmic products," Yoo added.