South Korean health and functional food manufacturer GC Wellbeing and YooYoung Pharmaceutical have formed a strategic partnership to enter the Chinese filler market, as reported by Koreabiomed.com. YooYoung, an established manufacturer of hyaluronic acid (HA) formulations, will utilize its HIVE (Hybrid Technology Improving Viscosity and Elasticity) technology to develop a filler product tailored for the Chinese market. GC Wellbeing, which already has a supply contract with GC China Pharm in China, will assist in promoting YooYoung’s product within the region.
According to the agreement, the initial focus will be on penetrating the Chinese market, with the possibility of expanding to other Southeast Asian markets in the future. Financial details of the partnership were not disclosed. The companies have set a target to achieve sales of KRW 40 billion (USD 29.9 million) in the Chinese market.- Flcube.com
