April 25, 2024

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[THE INVESTOR] JW Holdings said on May 23 it has signed export deals with Brazil-based Sif Participacoe and India’s Alniche Lifescience to venture into emerging markets.

The Korean company will supply six medications, including intravenous solutions Combiflex Ripid and hair loss treatment Finasteride, to Sif Participacoe. For Alniche Lifescience, JW Holdings will export four types of triple chamber solutions that support patient’s nutritional requirements. 

According to the Seoul-based drug maker, the contract is for five years from the first export date to each country and will be automatically extended by one year if the deal is successfully completed. Other details and terms of the separate agreements have not been disclosed due to confidentiality obligations.

“Although Brazil and India are widely regarded as potential targets for the pharmaceutical industry, it has not been easy for domestic drug makers to enter emerging markets,” JW Holdings CEO Kwon Han-sung said in a statement.

“As JW is recognized for its superior product quality and price competitiveness, with the export contracts we will actively try to expand into other global emerging markets,” he said.

The company’s subsidiary JW Life Science is Korea’s largest intravenous solution maker which dominates 40 percent of the market worth some 320 billion won (US$296.5 million).

By Park Han-na (hnpark@heraldcorp.com)