Jeil Pharmaceutical Enters Ophthalmology Field... Exclusive Domestic Supply of 9 Novartis Items

Exclusive Sales and Supply Agreement with Novartis
9 Ophthalmic Disease Items Including Glaucoma and Conjunctivitis
Full-scale Entry Starting January 2024

Jeil Pharmaceutical is newly entering the ophthalmic disease sector through the supply of ophthalmic disease treatments from Novartis.

Jeil Pharmaceutical Headquarters View.
[Photo by Jeil Pharmaceutical]

Jeil Pharmaceutical announced on the 11th that it has signed an exclusive domestic sales and supply agreement with Novartis Korea for nine ophthalmic disease items, including glaucoma and conjunctivitis. Under this agreement, Jeil Pharmaceutical will exclusively sell and supply six glaucoma-related items and three conjunctivitis-related items from Novartis Korea within South Korea.

The items introduced by Jeil Pharmaceutical include nine products: the high intraocular pressure and open-angle glaucoma treatments ▲Elazop ▲Simbrinza ▲Azopt ▲Travatan ▲Izba ▲Duotrav, and the allergic conjunctivitis treatments ▲Pazeo ▲Pataday ▲Patanol. These nine items recorded sales of approximately 25 billion KRW in the domestic market last year, according to IQVIA data.

Jeil Pharmaceutical plans to officially enter the market from January 2024 and strengthen its position in the ophthalmic disease sector, including glaucoma and conjunctivitis. In particular, Elazop is a key product that holds a 14% market share in the domestic glaucoma eye drop combination market and generates annual sales exceeding 11 billion KRW.

Seong Seok-je, CEO of Jeil Pharmaceutical, said, "We are very pleased to form a partnership with the global healthcare company Novartis. We will focus our capabilities on widely supplying excellent ophthalmic disease treatments that have already been proven in the global market to contribute to improving patients' quality of life."

Yu Byung-jae, CEO of Novartis Korea, stated, "In line with our headquarters’ direction to newly advance as a pharmaceutical company centered on innovative medicines, we have transferred the exclusive domestic sales rights for some ophthalmic products to Jeil Pharmaceutical. Novartis will focus on the sales of retinal disease treatments Beovu and Lucentis, and through our partnership with Jeil Pharmaceutical, which has excellent competitiveness in sales to general hospitals and clinics for glaucoma and allergy items, we will do our utmost to stably supply ophthalmic products to patients and medical professionals."

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