KUALA LUMPUR, Malaysia, April 5, 2023 /PRNewswire/ -- Luye Pharma Group (Luye Pharma), an international pharmaceutical company dedicated to the R&D, manufacturing and sale of innovative medications, today announced that it has entered an agreement with Duopharma Marketing Sdn Bhd, a wholly-owned subsidiary of Duopharma Biotech Berhad (Duopharma Biotech), which grants the latter exclusive marketing and distribution rights to a cholesterol management product in Malaysia.
Luye Pharma and Duopharma Biotech Strategic Partnership Signing Ceremony
Developed by Luye Pharma, the product is a traditional Chinese medicine made by using modern technology to ferment special red yeast rice, a natural alternative for cholesterol management.
Through this partnership, Luye Pharma will be able to leverage Duopharma Biotech's long-term expertise in the cardiovascular therapeutic field, both in terms of its excellent promotion in academic and extensive distribution network throughout clinics and hospitals, further expanding the accessibility of the product in Malaysia. The two companies expect that the product will grow at a compound annual growth rate of double digits in the local market over the next 10 years.
Andy Siow, APAC Regional Director of Luye Pharma (International) said: "The product's efficacy has been widely recognized by doctors and patients over long-term clinical use in Malaysia. The partnership with Duopharma Biotech will enable this highly trusted and naturally produced traditional Chinese medicine to reach more patients in need."
"This partnership and collaboration with Luye Pharma enables all patients in Malaysia to have choices in the therapies and medications they need for their well-being." said Leonard Ariff Abdul Shatar, Group Managing Director, Duopharma Biotech Berhad.
About Luye Pharma Group
Luye Pharma Group (Luye Pharma) is an international pharmaceutical company dedicated to the R&D, manufacturing and sale of innovative medications. The company has established R&D centers in China, the U.S. and Europe, with a robust pipeline of over 30 drug candidates in China and more than 10 drug candidates in other international markets. Luye Pharma maintains high-level international standards in novel drug delivery technologies including microspheres, liposomes, and transdermal drug delivery systems. The company has also achieved multiple innovations in new chemical entities and antibodies, and is actively making strategic developments in the fields of cell therapies and gene therapies.
Luye Pharma is developing a global supply chain of 8 manufacturing sites with over 30 production lines in total, establishing GMP quality management and international standard control systems. With more than 30 products covering the central nervous system, oncology, cardiovascular, metabolism and other therapeutic areas, business is conducted in over 80 countries and regions around the world, including the largest pharmaceutical markets - China, the U.S., Europe and Japan, as well as in fast growing emerging markets.
For more information, please visit: www.luye.cn/lvye_en
About Duopharma Biotech Berhad
Duopharma Biotech Group ("Duopharma Biotech" or "the Company") began with the establishment of Duopharma (M) Sendirian Berhad in 1978. Duopharma Biotech was incorporated in 2000 and is today one of Malaysia's leading pharmaceutical companies listed on the Main Market of Bursa Malaysia Berhad.
Duopharma Biotech has core competencies in the pharmaceutical industry inclusive of Manufacturing, Research & Development and Commercialisation & Marketing of over 300 generic drugs such as Crystorvas, Prelica and Omesec as well as Consumer Healthcare ("CHC") products including CHAMPS®, FLAVETTES®, PROVITON® and Uphamol, which are well-recognised and accepted by consumers in Malaysia, regionally and globally. The Company has also diversified into the biosimilars space with technology and commercialisation collaborations with credible and strong international partners. ERYSAA®, Basalog One®, and Zuhera are a few commercialised biosimilar brands.
Headquartered in Kuala Lumpur, Malaysia, Duopharma Biotech owns and operates three manufacturing plants in Klang, Bangi and Glenmarie, Selangor. Duopharma Biotech also has subsidiary companies in the Philippines and Singapore. A subsidiary of Duopharma Biotech Berhad has a representative office in Jakarta, Indonesia.
Website: www.duopharmabiotech.com
