Handok sings a contract for export of ‘Ketotop’
to Singapore and Malaysia through Zuellig Pharma

– Handok will export Ketotop to Singapore and Malaysia from
2017 through Zuellig Pharma

– Export of Ketotop is planning to be expanded to all areas of Asia
including Indonesia, Vietnam and Philippines.

Handok (Chairman Youngjin Kim) has formed a
contract with Zuellig Pharma to export a topical arthritis treatment Ketotop (active
ingredient: Ketoprofen) to Singapore and Malaysia. This deal is estimated to be
worth around 10 billion won.

Zuellig Pharma is a leading company in Asia
which provides and distributes healthcare services. Through this deal, Zuellig
Pharma has formed a strategic partnership with Handok to be responsible for the
sales of Ketotop in Singapore and Malaysia from 2017. They are also planning on
expanding the area of export thereafter to cover the whole of Asia, including
countries such as Indonesia, Vietnam and Philippines.

Chairman Youngjin Kim of Handok said that “This
contract for export was signed with hope that Ketotop, bought off in 2014, will
grow to be a global brand. Through this event, we should be able to promote the
product more actively. Ketotop has been the number one product in the Korean
topical anti-inflammatory market for the last 22 years, since its launch in
1994. We are expecting Ketotop will also have its excellence acknowledged in
the global NSAID plaster market and grow to be a top brand”.

The market size for topical
anti-inflammatories for Singapore and Malaysia came to be approximately about
19.47 million dollars as of 2015. They are currently growing at the rate of 11%
every year, where their growths are expected reach 36.64 million dollars in
2022. Also, the percentage of citizens over the age of 60 years, according to
Worldbank report, is 16% for Singapore and 9% for Malaysia. This marks both
countries as entering or having already entered aging societies, with high potential
for growth of market for topical anti-inflammatories for musculoskeletal use.

Handok overtook Ketotop when they acquired
the pharmaceuticals division of Pacific Pharmaceuticals Co., Ltd in 2014. Since
then, Handok is establishing itself in the field of dermal delivery formulation
through product development targeting the worldwide market as well as investing
in a variety of areas such as building a manufacturing plant for plasters. The
plaster manufacturing plant that Handok is currently building in Eumseong,
Chungcheongbuk-do is 8,385m2 in gross floor area which can produce up to 390
million sheets each year. Handok had invested in approximately about 30 billion
won in this plant. Ketotop and other novel patch products which will target the
worldwide market will be produced at this plant and will be sold in Korea and
abroad to benefit many patients.

Zuellig Pharma, founded in 1922, is leading
the Asian healthcare market through providing innovative solutions for
customers and patients experiencing healthcare related needs in 12 Asian countries.
Business sectors for Zuellig Pharma include pharmaceuticals, medical appliances
and supply of appliances required for clinical trials as well as providing
agency services for clinical trials, marketing, sales, distribution and patient
management. There are a total of 10,000 employees working together in Zuellig
Pharma to provide better healthcare services to 350,000 hospitals, doctor’s surgeries
and pharmacies all over Asia.