SiderAL®: new agreement for distribution in Taiwan
Published: 28 August 2019 11:31
PharmaNutra S.p.A. signs a new agreement for the distibution of the SiderAL® line in Taiwan.
HONG CHI Biotech will be the company launching the products based on Sucrosomial® Iron on the Taiwan market, starting with SiderAL® Forte Int.
PharmaNutra S.p.A. has finalised a new agreement for distribution abroad of SiderAL®, the product line based on Sucrosomial® Iron, the innovative patent that has enabled the Group founded by the brothers Andrea and Roberto Lacorte to gain a leadership position in the production of iron-based nutritional supplements.
The new agreement was reached with HONG CHI Biotech, the KSMG (Kuang Sheng Medical Group Pharma) group company also including the companies HONG-CHI Biotech Co. Ltd, E-SHENG Pharma and YU-HONG Pharma, for distribution of SiderAL® in Taiwan. HONG CHI Biotech will be launching Sideral® Forte Int. 30 cps 30 mg Sucrosomial® Iron exclusively on the Taiwan market, straight after the product registration process has ended.
For PharmaNutra S.p.A. this is the second, important partnership agreement stipulated with Taiwan: last May, the company signed a distribution agreement for the Cetilar® line with TTY Biopharm Company Limited.
Andrea Lacorte, President of Pharmanutra S.p.A, comments: “For PharmaNutra 2019 has seen strong, continual expansion on international markets. This is the result of the excellent work done by our foreign department and, obviously, the proven effectiveness of our patented products. The agreement finalised with HONG CHI Biotech for distribution of SiderAL® in Taiwan is the umpteenth, certainly not the last, step on this path; especially important as this nation has more than 23 million inhabitants, with an important Gross Domestic Product and brilliant economic figures. It is a continuously expanding market and managing to enter this context through the front door, thanks to the partnership with an organisation like the KSMG group, is strategically very important for our company”.
The biotech and pharmaceutical industry in Taiwan has recorded good results in recent years. So much so that, according to a survey by the ITRI- Industrial Technology Research Institute, Taiwan’s “bio and pharma” industry as a whole increased 5.5% in 2018, for a total value of 14.6 billion Euro. The Taiwan pharmaceutical market has growth potential because the population’s buying power has increased, as has its desire to improve its living standard; further stimulating the demand for and imports of pharmaceutical products. Based on local Finance Ministry data, the value of the pharmaceutical product imported by Taiwan in 2018 was €3.27 billion (+8.3% compared to 2017) and Italy is the seventh supplier with €172 million exported, a 5.3% share of the market.