Daewoong Pharmaceutical Accelerates Entry into China... Partners with Local Pharmaceutical Import-Export Company

Business Agreement with Meheco International
Comprehensive Partnership Covering All Products

Daewoong Pharmaceutical announced on the 15th that it has signed a comprehensive Memorandum of Understanding (MOU) with Meheco International, a Chinese pharmaceutical import-export specialist company. Through this agreement, the entry of all Daewoong Pharmaceutical products, including new drugs, into the Chinese market is expected to accelerate.

Daewoong Pharmaceutical announced on the 15th that it has signed a comprehensive Memorandum of Understanding (MOU) with Meheco International, a Chinese pharmaceutical import-export specialist company. Hong Jiaqing, Vice President of Meheco Group, Moon Ji-young, Head of Global Strategy Team at Daewoong Pharmaceutical, Kim Do-young, Head of Global Development Center at Daewoong Pharmaceutical, Generaltec Vice President Zhu Chunming, Meheco Group CEO Lia Dong, Meheco Group Vice Chairman Wang Xiao, and Meheco International CEO Mei Mei are posing for a commemorative photo. (From left)
[Photo by Daewoong Pharmaceutical]

The MOU between the two companies was signed on the 6th at the 6th China International Import Expo (CIIE) held in Shanghai, China. Kim Do-young, Head of the Global Development Center at Daewoong Pharmaceutical, and Hong Jiaqing, Vice President of Meheco, attended the signing ceremony.

Meheco is the first company in China specializing in pharmaceutical import and export. It has cooperative relationships with more than 60 large medical groups inside and outside China and provides integrated solutions for various products such as pharmaceuticals and medical devices to over 20,000 medical institutions. In August, Daewoong Pharmaceutical signed an exclusive distribution and sales contract with Meheco for the local pharmaceutical "Neuranta" (an antacid) produced at Meheco’s Liaoning factory in China, covering distribution throughout China.

Daewoong Pharmaceutical explained that through this MOU, it will be able to actively pursue exports to China for all products with global competitiveness, including its self-developed new drugs.

The CIIE, where the signing ceremony between Daewoong Pharmaceutical and Meheco took place, opened on the 5th in Shanghai, China. Now in its sixth year, the CIIE is a national-level expo planned by China to encourage the import of various products. This year’s expo featured participation from over 3,400 companies from more than 150 countries, with 212 companies from South Korea attending. Among domestic companies, Daewoong Pharmaceutical was the only pharmaceutical company to participate.

Kim Do-young, Head of the Global Development Center at Daewoong Pharmaceutical, stated, "This MOU is encouraging as the partnership, which began with the distribution of locally produced pharmaceuticals in China, has expanded the possibility of entering the Chinese market with all products produced in Korea. Through this MOU, we will accelerate our entry into the Chinese domestic market and take a step closer to achieving 1 trillion KRW in new drug sales by 2030."

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