Ildong pharmaceutical said that it will co-promote GSK Consumer Healthcare’s over-the-counter and other consumer health-related products.
The products include Theraflu, Otrivin, Nicotin-L, Driclor, Voltaren, Polident, Sensodyne, Parodontax, and Breathe Right. Sales of these products amounted to about 46 billion won ($38.7 million) last year.
“This is the largest single co-promotion contract in the domestic OTC and consumer healthcare sectors,” the company said. “As the products did well last year, Ildong estimates that it will be able to achieve 50 billion won in annual sales.”
As a result of this agreement, Ildong will also be able to achieve annual sales of more than 200 billion won in OTC business alone from next year, the company added.
The company plans to increase sales and profitability through efficient distribution and inventory management, which are strengths of its online drug store, Ildong Shop, it went on to say.
“Following the co-promotion agreement with GSK Korea for Relenza, a cold medicine, the company was able to expand its partnership with GSK Consumer Healthcare in the field of OTC and consumer healthcare,” a company official said. We will work with GSK to create results and satisfy customers while continuing to seek partnerships that will help us to grow together.”
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