Taiwan’s Sinphar to distribute Japanese drug for regulating blood lipids
TAIPEI, NNA – Sinphar Group will be the exclusive agent in Taiwan for a generic drug produced by its partner Daito Pharmaceutical Co. to regulate blood lipids.
The two firms have been collaborating since 2010 to develop cancer drugs, Sinphar spokeswoman Iren Chiang told NNA, adding that this is their first foray into generic drugs.
They said they expect the new drug to pass evaluation and register for entry into the market within two years.
The Taiwan market for blood lipid drugs is projected to reach 9.2 billion New Taiwan Dollars ($295 million) by 2020, according to research by the Biotechnology Industry Study Centre at the Taiwan Institute of Economic Research.
Chiang said Taiwan Tanabe Seiyaku Co., also known as Tai Tien Pharmaceuticals Co., could be Sinphar’s main rival in generic drug distribution.
She said Tai Tien distributes brand-name drugs for its parent company in Japan, Mitsubishi Tanabe Pharma Corp., in addition to dozens of currently approved generic drugs for regulating blood lipids.