JW Holdings is accelerating advance into "pharmerizing" markets. “Pharmerging” is a new term which combines “pharmacy” and “emerging” and a pharmerging market means an emerging pharmaceutical market, such as Brazil and India.
JW Holdings announced on May 23 that the company signed export agreements with Brazil's Sif Participacoe and India’s Alniche Lifescience to supply finished drug products such as three-chamber general nutritional solutions.
The agreement provided JW Holdings with a bridgehead to the Brazilian and Indian markets.
Sif Participacoe is a holding company of medical product distributors headquartered in Annapolis, central Brazil. The company is leading the pharmaceutical industry in central Brazil with full support from the central Brazilian government
Alniche Lifescience of India is a drug marketing company with an annual growth rate of 60% or more which has secured competitiveness in specialized hospitals such as cancer centers and burn treatment hospitals, nephrology, gastroenterology and neurosurgery departments.
JW Holdings will supply six finished pharmaceutical products including three-chamber general nutritional solutions and Finasteride, a medicine that treats hair loss and prostatomegaly to Sif Participacoe and four kinds of three-chamber general nutritional solutions to Alniche Lifescience.
The volume of exports is confidential according to the agreement between them. The contract will run for five years from the first export date for each country. They agreed to automatically extend the contracts for one more year if the contracts are successfully implemented.
JW Holdings will further strengthen its business based on its strategic partnership with the two companies, which have marketing infrastructure for general nutritional solutions in Brazil and India.
"Although Brazil and India have been widely regarded as markets with great growth potential, Korean pharmaceutical companies have had difficulty entering them," said Han Sung-kwon, CEO of JW Holdings. “As these export contracts proved the superior quality and price competitiveness of JW Holdings products, we will actively advance into globally emerging new markets."