China-based Luye Pharma Group (HKG: 2186) has signed an agreement with Malaysia’s Duopharma Marketing Sdn Bhd, a subsidiary of Duopharma Biotech Berhad, to hand over exclusive marketing and distribution rights for a cholesterol management product in Malaysia. The product, developed in-house by Luye, is a traditional Chinese medicine (TCM) made using red yeast rice. Financial details of the agreement were not disclosed.
Growth Projections for TCM Sales in Malaysia
The two firms anticipate that sales of the TCM will experience double-digit growth over the next decade. This partnership is strategic for Luye Pharma’s expansion into the Malaysian market, leveraging Duopharma’s established presence and expertise in the cardiovascular therapeutic field.
Duopharma’s Expertise and Distribution Network
Duopharma is recognized for its academic promotion capabilities and extensive distribution network across Malaysia’s clinics and hospitals. This makes them an ideal partner for the product, ensuring broad reach and effective marketing strategies. The collaboration is expected to enhance the availability and accessibility of the cholesterol management TCM, benefiting both patients and healthcare providers in Malaysia.-Fineline Info & Tech
