New agreement with WERT Philippines for the SiderAL® range
Expansion continues on the Asian markets for the range containing Sucrosomial® Iron. From January to September an impressive 9 new foreign partners join the Group.
After the recent agreement signed with HONG CHI Biotech for the exclusive distribution on the Taiwan market of SiderAL® Forte Int., PharmaNutra S.p.A. has announced a new agreement for the foreign distribution of products containing Sucrosomial® Iron, the revolutionary patent that has enabled the Group to achieve a leadership position in the production of iron-based nutritional supplements.
The contract has been signed with WERT Philippines, a leading company on the national market boasting over 20 years of experience in the supply of high quality medicinal products, with a vast range of products listed, ranging from paediatric products to food supplements. Thus a widely consolidated business, which will have exclusive distribution rights for the SiderAL® range in the Republic of the Philippines, an archipelagic state made up of 7,641 islands spread over three main geographical regions, covering a total surface area of 300,000 km² with a population of 103,000,000.
The first products to be distributed with the Pharmanutra brand by WERT in the adult range are SiderAL® Folic 30 mg Sucrosomial® Iron and SiderAL® Forte 30 mg Sucrosomial® Iron.
Roberto Lacorte, MD and Vice President of PharmaNutra S.p.A., commented: “In 2019 we signed 6 contracts for the foreign distribution of our products containing Sucrosomial® Iron and another 3 agreements related to the Cetilar® range. These figures clearly highlight the ability of the business to penetrate new markets, while also representing a guarantee for present and future company investments. All this, as we have already pointed out in the past, is the result of two key factors: the effectiveness of our patented products, also guaranteed by numerous scientific studies published over the years, and the professional quality of our work groups, which when combined really make the difference”.
Today, the Philippines are fully immersed in the Asian boom, with GDP growth rates that over recent years, according to data from the Italian-Philippine Embassy, are second only to China, showing a growth of 6.2% in 2018. The Philippine market also has great potential, to the extent that the World Bank estimates growth for this country of 6.4% in 2019 and 6.5% in 2020-2021, stimulated by public investments and an increase in consumption, driven above all by imports. In fact in 2018, Italy exported basic pharmaceuticals or pharmaceutical preparations for a total of 23.22 million Euro, showing an increase of 26.9% compared to 18.29 million of the previous year.