News
2024.02.26
DX&VX is introducing pharmaceutical products into the healthcare market in China.
On the 26th, Dx&Vx BJ (Beijing Diaiweis Biotechnology Co., Ltd.) announced plans to launch an oral ulcer treatment pharmaceutical in April. Following the release of six products including basic antibiotic azithromycin last year, the company continues to expand its pharmaceutical portfolio supplied to the massive 225 trillion won Chinese market.
The oral ulcer treatment will be produced and supplied under the Dx&Vx brand by the local pharmaceutical company Heilonggang Cheongnyong Pharmaceutical Co., Ltd Distribution and sales will be handled through a Chinese subsidiary of COREE Group, which holds the Good Supply Practice (GSP) license for pharmaceuticals in China. Through this arrangement, Dx&Vx BJ will receive a contract fee of 1 billion Korean won and monthly royalties for the use of the Dx&Vx trademark, as explained by the company. This treatment is said to be effective for oral ulcers, pediatric stomatitis, herpetic angina, hand-foot-mouth disease, tonsillitis, acute and chronic pharyngitis, and laryngitis, among others.
The oral inflammation treatment market in China is worth 120 billion won. Dx&Vx aims to generate 10 billion won in sales this year and 20 billion won next year for oral inflammation treatments.
Dx&Vx plans to expand its pharmaceutical lineup beyond oral ulcer treatment to include medications for skin conditions, ophthalmic disorders, and other supportive treatments.
The company spokesperson stated, "With our entry into the Chinese healthcare market, we anticipate visible high growth in performance in the Chinese market this year as the pharmaceutical product range expands. We aim to establish the Dx&Vx brand in the second-largest global pharmaceutical market in China through various proprietary branded medications in the future."