Pangen Initiates Regulatory Approval for Anemia Treatment 'Panfortin' in Vietnamese Market
[Asia Economy Reporter Eunmo Koo] Bio-pharmaceutical company PanGen announced on the 13th that it has signed an exclusive supply contract for 'Panfortin' with Vietnamese pharmaceutical company 'Khuong Duy.'
PanGen's 'Panfortin' is the first epoetin alfa-based anemia treatment drug in Korea and the world's second biosimilar product, developed and commercialized independently by PanGen.
With this exclusive supply contract for Panfortin, Khuong Duy will use the approval registration data authorized by PanGen to carry out the registration procedures required for product launch with the Vietnam Food and Drug Administration. Additionally, they plan to import finished products from PanGen and exclusively sell them throughout Vietnam.
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A PanGen official explained, "The Vietnamese government classifies biosimilar products separately and sets higher drug prices, so PanGen's biosimilar products are in a very advantageous position in market competition." Similar to other ASEAN countries, the Vietnamese market is seeing a steady increase in chronic renal failure patients, and the anemia treatment drug market is expected to reach approximately 50 billion KRW.
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