CTC Bio said Tuesday that it has acquired marketing approval for its erectile dysfunction treatment (Ingredient: Sildenafil) in Vietnam.
The drug, licensed to the Southeast Asian country, is a film-type drug that dissolved moisture from Pfizer's Viagra ingredient. It is also the first film type erectile dysfunction treatment to receive sales approval in Vietnam. Since the company acquired the approval, it has a significant advantage in entering the market such as selecting multiple distribution companies.
“The Vietnamese market is very interested in the company’s product as it is the first film-form treatment approved for marketing,” a company official said. “Based on the licensing and market responses the company plans to apply for additional film-type products in the country.”
The CEO of the company seemed enthusiastic about the new sales approval.
“CTC Bio is the only pharmaceutical company that licenses and sells film-type medication overseas,” CTC Bio CEO Cho Ho-yeon said.
Overseas sales of film-type pharmaceuticals are just beginning, and the company expects sales to increase as it is expanding the scope of products and licenses in various countries, he added.
Regarding its goals to expand overseas, the company has been contracting with various multinational pharmaceutical companies such as Teva, Abbott, and Ferring to sell its products globally. The company currently markets its products in countries such as Russia, Lebanon, Hong Kong and Paraguay.
The company expects to receive sales approval in up to 30 countries for its film form pharmaceuticals this year.
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