JW Holdings said Wednesday that it has signed agreements with two foreign pharmaceutical companies -- SIF Participacoe of Brazil and Alniche Lifescience of India -- to export its finished products, including nutritional solutions.
SIF Participacoe is a holding company for medicines distributors based in Annapolis, Brazil. The company is leading the medicine industry in central Brazil with full support from the government. It supplies medications such as nutritional solutions, antibiotics, and narcotic analgesics through a pharmaceutical company that owns three manufacturing sites.
Alniche Lifescience is a marketing company specialized in pharmaceuticals. The company is growing by more than 60 percent every year and has gained competitiveness among hospitals specialized in cancer, nephrology, internal gastrointestinal medicine, and neurosurgery.
Under the accord, JW Holdings plans to export six products, including its two three-chamber comprehensive nutritional solutions -- Combiflex Lipid Inj. and Combiplex MCT Peri Inj. – hair loss and benign prostatic hyperplasia therapy Finasteride Tab., to SIF Participacoe. The Korean company will also export four of its three-chamber comprehensive nutritional solution products to Alniche Lifescience.
The contract period is five years from the first export date for each country and is automatically extended one year if the initial agreement is executed successfully. The companies had agreed not to reveal their contract amounts.
JW Holdings intends to strengthen further its business based on its strategic partnership with the two companies that have secured marketing infrastructure regarding comprehensive nutrition and solution medicine.
“Although Brazil and India have strong growth potentials in the pharmaceutical industry, it has been difficult for Korean pharmaceutical companies to enter these pharmerging markets,” JW Holdings CEO Han Sung-kweon said. “We plan to aggressively market our products in pharmerging markets based on our product quality and price competitiveness.”