Boryung Pharmaceutical said that it has canceled its contract to supply 83 billion won ($71.3 million) worth of Cinalong, a hypertension treatment, to RamPharma, a Jordanian pharmaceutical company.
The two companies agreed to supply Cinalong to 19 countries in the Middle East and North African region, including Jordan, Lebanon, UAE, Egypt, Libya, and Saudi Arabia, Kuwait and Qatar, in December 2016. However, they have recently determined that the product is no longer marketable in the region, and decided to terminate the contract.
“The planned schedule for launching Cinalong in Jordan was six years from the time of contract,” the company said. “However, the two companies concluded that Cinalong is no longer marketable for reasons such as market fluctuations in Jordan at this time.”
Cinalong is a calcium channel blocker (CCB) hypertension treatment that uses Cilnidipine as its main component. It is a drug that lowers blood pressure by expanding blood vessels and relaxing calcium ions to relax smooth muscle.
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