São Paulo, January 26, 2023 - Eurofarma, one of the largest pharmaceutical companies in Latin America and leader in medical prescription in Brazil, announces its partnership with the Korean company HK inno.N to import the manufacturing technology of an innovative medicine, belonging to a new class, with a new action mechanism and superior efficacy, for the treatment of gastric and esophageal conditions, which will benefit patients with diseases such as gastroesophageal reflux, erosive gastritis and gastric ulcer. 

Among the main benefits of this new technology are effectiveness and a rapid onset action, of only 30 minutes, important attributes for this type of treatment. Under the agreement, which is exclusive, HK inno.N will transfer to Eurofarma the technologies associated with manufacturing to produce at the Itapevi Industrial Complex and market in Brazil.

"This technology has seen much progress in recent years in international markets, considering export contracts, clinical trials, approvals and launches in global markets," said Dalwon Kwak, president of HK inno.N. "Our goal is to bring this technology to 100 countries by 2028, doubling our business globally," he added. 

"The partnership will bring benefits to prescribing physicians and patients because it is a high-tech and highly effective medicine" said Martha Penna, vice president of Innovation at Eurofarma. "The announcement reinforces the movement that Eurofarma has been undertaking over the years with new partnerships, in search of innovation and internationalization," he said.

Recently, Eurofarma announced its entry into the United States — the largest pharmaceutical market worldwide — with the purchase of Medimetriks, a specialized dermatology company. This first acquisition outside Latin America, a territory fully covered by Eurofarma, occurred a few weeks after the Itapevi Complex was inspected by the U.S. Food and Drug Administration (FDA). Still on acquisitions, the company obtained assets from Canonne Laboratory, such as the century-old Valda brand.

About Eurofarma Group

The Eurofarma Group has been operating in the healthcare industry for over 50 years, producing and marketing innovative products and services to improve people’s quality of life. With diversified operations, it operates in all major segments, such as Medical Prescription, Over-the-Counter, Generic, Hospital and Oncology, in addition to exporting and outsourcing medications. In Brazil alone, it offers more than 430 products, serves all medical specialties and covers upwards of 200 therapeutic classes, accounting for 80% of the total market.

The Eurofarma Group is present in 21 countries, with 10 manufacturing plants in Latin America. Reported net sales totaled BRL 8 billion in 2022 and the Group employs over 10,000 people. In 2022, it completed two important acquisitions: Canonne Laboratories, which owns the Valda brand, and Medimetriks Pharmaceuticals, Inc., which marked its entry into the U.S. market, in addition to the license agreement with SK Biopharmaceuticals to sell cenobamate throughout Latin America.

About HK inno. N

HK inno. N (KOSDAQ: 195940) is a South Korean pharmaceutical company that develops, manufactures and sells pharmaceutical products for the local and international markets. The company operates its business through three segments: prescription drugs, health supplements and beauty products. Since its inception in 1984, the company has been expanding internationally through exports and global alliances.

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