[Public Notice+] PanGen Launches Biosimilar Anemia Treatment 'Panfortin' in Korea

[Asia Economy Reporter Jang Hyowon] Pangen, a biopharmaceutical company specializing in biomedicine (CEO Yoon Jaeseung, Kim Youngbu), announced on the 12th that it has signed a single sales supply contract for the biosimilar anemia treatment drug (EPO) with Jungheon Pharmaceutical.

The contract amount is approximately 600 million KRW, which corresponds to 10.3% of recent sales. The contract period is from today until July 31.

A Pangen official said, “This supply contract is for the biosimilar anemia treatment drug Panfortin (EPO). It will be an opportunity to increase sales accessibility in Korea through Jungheon Pharmaceutical with a product that has established quality competitiveness.”

After this supply deal, Jungheon Pharmaceutical will hold the exclusive domestic sales rights for Pangen’s Panfortin product for the next two years. Jungheon Pharmaceutical is a pharmaceutical company that sells prescription drugs domestically and operates in drug manufacturing, direct sales, and wholesale.

Panfortin is a first-generation biosimilar anemia treatment drug independently developed by Pangen and obtained product approval from the Ministry of Food and Drug Safety last year. In particular, Panfortin is the first domestic biosimilar product containing epoetin alfa for anemia treatment and was recognized as the second biosimilar product worldwide.

A Pangen official said, “Panfortin recently received the highest market price among first-generation anemia treatment drugs (EPO) from the Health Insurance Review and Assessment Service,” adding, “Starting with this product supply, it will raise awareness domestically and provide patients with more options.”

The domestic anemia treatment drug market is estimated to be about 100 billion KRW, with first-generation products holding more than 50% market share. Pangen plans to accelerate its domestic market entry through Jungheon Pharmaceutical’s sales network, which has handled anemia treatment drugs based on the first-generation EPO Panfortin.

Moreover, the company has already signed sales contracts in the Philippines, Thailand, Turkey, Saudi Arabia, and GCC countries such as Kuwait. In Malaysia, sales have been steadily increasing, and the sales network has expanded to both public and private markets, extending to major ASEAN countries.

A Pangen official said, “Pangen’s various products have proven their excellence in the global market, and sales continue to increase,” adding, “We hope this opportunity will broaden patients’ choices domestically and lead to diversification and growth of sales both domestically and internationally.”

This content was produced with the assistance of AI translation services.