Luoxin Pharmaceutical announced the signing of the exclusive development agreement of the three-chamber total parenteral nutrition product with JW Holdings
Shandong Luoxin Pharmaceutical Group Stock Co., Ltd. , subsidiary of Luoxin Pharmaceutical Group Stock Co., Ltd. (Stock Code: 002793, hereinafter referred to as "Luoxin Pharmaceutical"), signed an exclusive license and distribution agreement with JW Holdings through an online ceremony this morning. The agreement grants Luoxin Pharmaceutical the exclusive right to develop and commercialize Winuf® under JW Holdings in the Chinese mainland, Hong Kong and Macau. Winuf® is a three-chamber total parenteral nutrition (TPN) product and so far there are no commercialized TPN products containing refined fish oil on the Chinese market. Besides, JW Holdings is the first Asian TPN manufacturer certified by European GMP.
Launched in South Korea in 2013, Winuf® has also entered the European market. It consists of 4 lipid components, as well as glucose and amino acids. It’s suitable for patients who are not capable of enteral nutrition feeding, for malnutrition patients under high-dose radiotherapy or chemotherapy, and for patients with severe digestive dysfunction, etc. Winuf® contains a higher content of refined fish oil than other existing products, and promotes the improvement and recovery of immunity in patients. The domestic sales of Winuf® in South Korea were recorded as KRW 55.7 billion last year. According to IQVIA, the three-chamber TPN market is growing rapidly, with the average growth rate over the three years (2017-2019) of 9.1% globally and 25.5% in China.
According to the terms of the agreement, Luoxin Pharmaceutical will undertake the clinical research, registration and commercialization of Winuf® in China. JW Holdings will receive the upfront payment, be responsible for product manufacturing and supply of Winuf®, and obtain sales milestone and tiered-royalties from Luoxin Pharmaceutical based on future sales in China. “We believe that Luoxin Pharmaceutical's platform of clinical research and commercialization can help us successfully introduce Winuf® into the Chinese market. We also hope to take this opportunity to promote the global opportunities of our product, and look forward to expanding our cooperation with Luoxin Pharmaceutical in the future, "said Sung Kwon Han, CEO of JW Holdings.
"We are very pleased to reach agreement with JW Holdings. We hope Winuf® will enter the Chinese market and benefit patients with relevant indications as soon as possible," said Ryan Liu, CEOof Luoxin Pharmaceutical. "In recent years, Luoxin Pharmaceutical has formed strategic partnerships with many Korean enterprises to introduce excellent products and therapies into China. We will attach equal importance to independent and cooperative R&D, create pipeline that can withstand the market test, and bring more value to customers, patients and the society! "
About JW Group
JW Group has been leading the Korean market for therapeutic drugs based on respect for life and the founding philosophy of pioneering spirit since its foundation in 1945. In 1959, the nation's first medical hospital solution, "5% glucose," has started its local manufacture.
JW Pharmaceutical, its flagship subsidiary, has various innovative new drug R&D pipelines, including anti-cancer drugs, while JW Life Science, a subsidiary specializing in hospital injection production, produces and supplies 8 million comprehensive nutrients annually based on the world's largest plant dedicated to eco-friendly Non-PVC hospital injections.
JW Holdings is also directly responsible for overseas business of raw materials, drugs and medical devices in the group, in addition to managing subsidiaries, generating profits. JW Holdings is listed on the Korean exchange as '096760'.
About Luoxin Pharmaceutical
Luoxin Pharmaceutical Group Stock Co., Ltd. is a healthcare conglomerate corporation in China that is engaged in pharmaceutical research and development, manufacture, sales, and healthcare service. As one of the fastest growing pharmaceutical companies in China, it serves customers with high quality active pharmaceutical ingredients (APIs), finished products in various formulation forms (tablets, capsules, injectable, etc.), and healthcare service.
Now the company has been ranking top 100 of China's Pharmaceutical Industry in terms of overall competence nationwide, and identified as one of the “Top 20 Pharmaceutical Companies with Strong R&D Pipelines” for years. The company was listed on China's A-shares market in 2019 as ‘002793’.