Collaborations in research and developmental activities seem to be the ultimate for the pharma industry. The next in line after the Ranbaxy deal is South Korea-based Daewoong Pharmaceutical Company, which is setting up its first R&D centre in Hyderabad. This is the first Korean pharmaceutical venture to set up an R&D centre and is eyeing partnerships and co-marketing of its products as well.
“We are the first Korean pharmaceutical company to enter the Indian market with a motive of globalisation. The core activities of Daewoong in India include collaborations with Indian companies for in-licensing and out-licensing pharma products,”Dong Hyun Cho, GM, India, told FE.
Besides, the $500-million company is also interested in global human resource programme. It has entered India with an aim of procuring active pharmaceutical ingredients (APIs) and to enter contract research activities.
“We aim to become number one in the wound healing category,” he said adding that the company has plans to expand the portfolio from Easyef, a biotechnological wound-healing agent to new products that covers the whole wound healing process. It claims to have a competent pipeline, which is expected to become blockbusters in the biopharmaceuticals, new chemical entities (NCEs), drug delivery system (DDSs) and APIs.
“We have collaborated with leading Indian pharmaceutical companies for in-licensing and out-licensing of pharma products and we are in the process of final discussions with some of the leading pharma companies to take products to the Korean market as well. And we are in the preliminary discussions with many Indian pharmaceutical companies, research institutes and CRO for collaborations,” he informed. Daewoong is at the stage of R&D setup now with a team of about 20 employees. It has proposed to add at least 15 employees in different fields per annum,” he added.