SUBANG JAYA, Malaysia, Aug. 2, 2021 /PRNewswire/ -- Luye Pharma Group today announced that it has entered into an agreement with Zuellig Pharma, a leading healthcare service group in Asia, under which the company grants Zuellig Pharma exclusive rights to distribute its central nervous system drugs Seroquel (quetiapine fumarate, immediate release) and Seroquel XR (extended release formulation) in Malaysia and Brunei.
Seroquel and Seroquel XR are atypical anti-psychotic medicines with antidepressant properties, for the treatment of schizophrenia and bipolar disorder. Seroquel XR is also approved in some markets for major depressive disorder and generalized anxiety disorder. Quetiapine is recommended as a first-line treatment option for the management of patients with bipolar disorder in the Canadian Network for Mood and Anxiety Treatments (CANMAT) and the International Society for Bipolar Disorders (ISBD) 2018 guidelines.
The Asia Pacific region is regarded as a high-potential emerging market for Luye Pharma's global business development. Our partner, Zuellig Pharma, is one of the largest healthcare services groups in Asia, providing world-class distribution, digital and commercial services to support the growing healthcare needs in this region. In 2020, the two companies reached an exclusive distribution agreement for Seroquel products in Hong Kong SAR, China, successfully driving the Seroquel business in that market through a joint effort.
"We are very pleased to collaborate with Zuellig Pharma again. By leveraging its business network and channel resources together with Luye Pharma's in-house sales and marketing capabilities, we believe the distribution partnership will help better improve the accessibility of Seroquel products for patients in these two markets," said Andy Siow, APAC Regional Director of Luye Pharma (International). "Meanwhile, we are also looking forward to working with more business partners, integrating resources from all sides to bring more high-quality and evidence-based innovative drugs to benefit patients in need."
In tune with the goals of "innovation" and "globalization" defined by Luye Pharma's corporate strategy, the company has been improving its business capabilities around the globe and actively exploring opportunities for added growth potential. In Asia Pacific, Luye Pharma's business footprint covers 15 countries and regions, with the company continuing to further expand in various markets through the establishment of its in-house sales and marketing team in Malaysia, Brunei, Singapore, Australia, Hong Kong SAR, and Taiwan, China, as well as in other markets, through in-depth collaborations with a number of global partners in the region.
About Luye Pharma Group
Luye Pharma Group 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. Along with a number of new drugs and new formulations in the central nervous system and oncology therapeutic areas under study in the U.S. Europe and Japan, Luye Pharma has reached high-level international standards in novel drug delivery technologies including microspheres, liposomes, and transdermal drug delivery systems, as well as actively making strategic developments in the fields of biological antibodies, cell therapies and gene therapies, among others.
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.
About Zuellig Pharma
Zuellig Pharma is one of the largest healthcare services groups in Asia and our purpose is to make healthcare more accessible. We provide world-class distribution, commercial and digital services to support the growing healthcare needs in this region.
The company started almost a hundred years ago and has grown to become a US$13 billion business covering 13 markets with 12,000 employees. We serve over 350,000 medical facilities and work with more than 500 clients, including the top 20 pharmaceutical companies in the world.
More recently, we launched our Zuellig Health Solutions Innovation Centre to develop new services and address some pressing healthcare needs in Asia. Since then, our teams have been focused on creating data, digital and disease management solutions, supporting patients with chronic conditions and helping payors manage healthcare costs.
