Seeking to expand supply of key products through strategic talks with local distributor Ganem Pharma Strengthening core lineup with a newly launched, reformulated cold remedy and anti-inflammatory analgesics Diversifying high value-added portfolio by additionally proposing Purinetone for government-procured anticancer drugs Leveraging 20 years of export experience to grow market share in Mongolia, where demand for Korean pharmaceuticals is surging
Korea United Pharm is accelerating efforts to expand its market share in Mongolia by broadening contact points with local partners. The company announced on the 12th that it had invited GanEm Pharma, a Mongolian distribution company, on the 9th to discuss business strategies for boosting exports. The management of both companies attended the meeting to review measures to promote the distribution of flagship products and to examine mid- to long-term cooperation plans.
The two sides focused on distribution network management measures for key products, including the cold medicine line Alkafen, as well as osteoporosis treatments and anti-inflammatory analgesics. For Alkafen, a locally scheduled launch of a model with improved drug delivery efficiency is expected to further strengthen its supply competitiveness. Based on Korea United Pharm’s sustained efforts to develop the Mongolian market, the company continues to receive positive local evaluations.
The supply chain for oncology drugs, which fall under the category of prescription pharmaceuticals, will also be reinforced. In addition to the five injectable anticancer agents currently supplied to Mongolia’s Ministry of Health (MOH), the company plans to promote new exports of Purinetone, a tablet-form anticancer drug. Through this, it aims to solidify its position in the market for treatments of severe diseases and to diversify its product portfolio to reinforce its business foundation.
At present, Mongolia relies heavily on overseas procurement to meet a significant portion of its pharmaceutical demand, and imports of Korean pharmaceuticals have recently shown a steep upward trend. As of 2022, imports of Korean-made pharmaceuticals increased by nearly 50% year-on-year. Having established a foothold in Mongolia since its initial entry in 2003, Korea United Pharm plans to actively leverage this favorable market environment.
Kang Duk-young, CEO of Korea United Pharm, assessed that local trust in Korean medicines has been steadily increasing. He added that the company intends to secure sustained export momentum by expanding the supply of competitive products based on its long-term partnership and supply track record.
Kim Sang-jun
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
ⓒ dongA.com. All rights reserved. Reproduction, redistribution, or use for AI training prohibited.
