Luye Pharma Enters Distribution and Marketing Partnerships in South Korea, Hong Kong, and Thailand for Seroquel® and Seroquel XR®
SHANGHAI, June 1, 2020 /PRNewswire/ -- Luye Pharma Group (Luye Pharma) today held a special signing ceremony as part of the "We Care About Mental Health" initiative, marking the start of three new strategic partnerships across the region. As part of the initiative, Luye Pharma granted Alvogen Korea Co. Ltd. (Alvogen Korea), Zuellig Pharma Ltd. (Zuellig Pharma) and DKSH (Thailand) Ltd. (DKSH) exclusive distribution and marketing rights to Seroquel® (quetiapine fumarate, immediate release) and Seroquel XR® (extended release formulation) in their respective regions of South Korea, Hong Kong and Thailand. Following the signing, the parties came together to issue a call for action as part of the "We Care About Mental Health" initiative, raising awareness and supporting patients, physicians and health systems in overcoming the huge unmet needs. This is especially timely against the challenging backdrop of the COVID-19 pandemic.
Mental illnesses such as schizophrenia, bipolar disorder, depression, and anxiety present a major challenge to patients, physicians and healthcare systems in all countries. According to WHO statistics, the lifetime prevalence of schizophrenia is generally reported to affect around 1% of the world's population, while the prevalence of bipolar disorder is reported to affect 2%-3%, and as much as 5% in some countries and regions. With the number of those affected worldwide expected to continue to grow over time, left untreated, both of these illnesses have the potential to do serious harm to patients and society. Schizophrenia patients have been found to have a higher overall mortality rate, two to three times as high as the general population, with life expectancy reduced by 10-20 years. The incidence of death by suicide among patients with bipolar disorder is high and can be more than 20 times higher than in the general population, particularly when untreated.
The devastating impact to sufferers and their loved ones is further exacerbated by the current COVID-19 pandemic.
The time to act is now. "We Care About Mental Health" is an initiative designed to raise awareness of the importance of mental health issues faced by society today, and intended to reach participants across multiple regions.
Luye Pharma together with the partners are committed to organizing a series of online and offline lectures hosted by experts in the field of mental health, helping to educate the public and further raise awareness of matters related to mental illness.
"Mental health is a serious global public health challenge that requires a sustained and united response from us all", said Andy Siow, APAC Regional Director of Luye Pharma (International). "By partnering with three outstanding organizations in the region, we are confident that the 'We Care About Mental Health' initiative will help to increase understanding and awareness of mental health issues. It will also provide insights on the available treatment options and emphasize how important it is for sufferers to seek treatment."
About Seroquel® and Seroquel XR®
Seroquel® (quetiapine fumarate, immediate release) and Seroquel XR® (extended release formulation) are atypical anti-psychotic (AAP) medicines with antidepressant properties. The main indications for Seroquel® are the treatment of schizophrenia and bipolar disorder. Seroquel XR® is also approved in some markets for major depressive disorder and generalized anxiety disorder.
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 40 drug candidates in China and more than 10 drug candidates in other international markets. Along with a number of new drugs and formulations in the central nervous system and oncology therapeutic areas currently 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 Alvogen Korea
Alvogen Korea, a subsidiary of Alvogen in Korea, which is a multinational global pharmaceutical and biosimilar company, was launched in June 2015. By further developing their strengths in the field of prescription medicines, Alvogen Korea now has a broad portfolio of about 200 products in a variety of areas, ranging from anti-obesity drugs and drugs to treat the central nervous system (CNS), kidney and cardiovascular conditions, to over-the-counter drugs. The headquarters is located in Seoul, the capital of Korea, its manufacturing plants are located in Hwaseong, Gyeonggi Province, and Gongju, South Chungcheong Province, and the R&D center is operated in Suwon, Gyeonggi Province. Alvogen Korea has spared no effort to supply medicines that meet global standards under the corporate mission of contributing to the improvement of the quality of patients' lives as well as to the treatment of various diseases. More information can be found at Homepage(www.alvogenkorea.com).
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, digital and commercial 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$12 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 payers manage healthcare costs.
DKSH is the leading Market Expansion Services provider with a focus on Asia. The Group helps companies to grow across the Business Units Healthcare, Consumer Goods, Performance Materials and Technology. The service portfolio covers sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. Publicly listed on the SIX Swiss Exchange, the Group operates in 36 markets with 33,350 specialists, generating net sales of CHF 11.6 billion in 2019. With its Swiss heritage, DKSH has been deeply rooted in Asia Pacific since 1865. The DKSH Business Unit Healthcare distributes pharmaceuticals, consumer health and over-the-counter (OTC) products as well as medical devices. With around 8,220 specialists, the Business Unit generated net sales of CHF 6.0 billion in 2019.
SOURCE Luye Pharma