NewgLabPharma Enters Improved New Drug Development and Distribution Business with Subsidiaries

[Asia Economy Reporter Hyunseok Yoo] NewG Lab Pharma, together with its subsidiaries NewGen Therapeutics and Arije Pharm, is intensifying its development and distribution business of ‘improved new drugs,’ ‘generic drugs,’ and ‘over-the-counter drugs,’ led by the development of a diabetes combination drug.

On the 18th, NewGen Therapeutics, a subsidiary of NewG Lab Pharma, announced that it signed a research service contract with Daegu Catholic University Industry-Academic Cooperation Foundation (Research Director: Professor Joo Eun Kim, Department of Pharmaceutical Engineering) for one ‘improved new drug for diabetes combination therapy’ and a total of four new products including ‘generic and over-the-counter drugs.’

NewGen Therapeutics plans to complete the research and development of the improved new drug in a short period based on the technology, expertise, and extensive experience of Professor Kim’s research team in the pharmaceutical industry research field. The clinical trial for this improved new diabetes combination drug will be conducted at Chungbuk National University Hospital.

Hyun Chang-geun, Head of Formulation Development at NewG Lab Pharma, said, “Since early last year, patents for blockbuster-type type 2 diabetes treatments such as ‘DPP-4 inhibitors,’ ‘SGLT2 inhibitors,’ and ‘GLP-1 analogs’ have expired, and explosive growth in the related market is expected. Recently, combination drugs have shown strength in prescription trends for diabetes and cardiovascular diseases, so the improved new diabetes combination drug we are developing this time is expected to have product competitiveness.”

He added, “Regarding the development of improved new drugs including diabetes combination drugs in the future, the subsidiary NewGen Therapeutics will obtain product approval, and NewG Lab Pharma will be responsible for distribution and sales. Utilizing the GMP-certified production facilities of Arije Pharm, we plan to directly produce and launch two to three or more self-developed new products annually.”

Meanwhile, according to data released last year by the Korean Diabetes Association, as of 2018, the number of diabetes patients in Korea approaches 5 million, and including prediabetes such as impaired fasting glucose, the diabetic population in Korea reaches about 10 million.

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