Biotechnology company PanGen (CEO Jaeseung Yoon, Youngbu Kim) announced on August 13 that it had signed an exclusive supply agreement with 'Khuong Duy' in Vietnam.

PanGen's Panpotin® is the first drug to treat anemia of epoetin alfa in Korea and is the second biosimilar product in the world, developed and commercialized by PanGen.

Khuong Duy, the third-largest pharmaceutical company in Ho Chi Minh, Vietnam, has been selling vaccines, biologics, and medical devices for over 20 years. In particular, Khuong Duy and Stella STADA are producing pharmaceuticals with manufacturing facilities that meet European standard GMP.


With the exclusive supply of Panpotin®, Khuong Duy will use the data registered by PanGen to carry out the registration process required for the product launch from Vietnam Food and Drug Administration (FDA). On top of that, Khuong Duy plans to import finished products from PanGen and sell them exclusively throughout Vietnam.

PanGen explained that it is speeding up to enter the market quickly as Korean products are not only high quality but also reliable and friendly. In particular, since the Vietnamese government classifies biosimilar products separately and sets a higher price on medicines, PanGen's biosimilar products are competitive in the market.

Indeed, as in other ASEAN countries, the Vietnamese market is steadily increasing in patients with chronic renal failure. And the anemia treatment market is expected to reach about KRW 50 billion (USD 42.3 million).

With this agreement, PanGen seems to have concluded plans to sell the six largest markets in ASEAN.

The deal seems to have finalized sales plans for six large countries in the ASEAN market. PanGen stated that, in the future, it will find partners and sign additional contracts in the other four countries, including Myanmar.


Copyright © acrofan All Right Reserved