- Official launch for contrast medium team held on the 26th, to raise new growth power through continuous R&D

- Neovist to be launched in August, and plans to raise a 30 billion won product




Daewoong Pharmaceutical Co., Ltd (President Lee Jong Wook) has started to advance into the contrast medium market, which is currently led by global companies. The first product, Neovist, will be released in August, and the company plans to grow its market to 30 billion won by 2015.

The size of the contrast medium market in Korea is about 230 billion won, of which more than 80% is held by global companies. For this reason, an attempt at market entry by a domestic company has special significance. President Lee Jong Wook said, "We shall change the trend of the current monopolized market, and will do this by actively investing to settle into the market as soon as possible, in consideration of the possibility of explosive growth in the future."

This market, which has increased by over 10% annually, is regarded as a blue ocean with huge market potential. The hyper-aging trend, in which ‘prevention’ is a greater focus than ‘cure,’ may accelerate the demand for contrast medium a great deal.

The product ‘Neovist’ will be the company’s first step into the market. Neovist is a patented CT medium with high safety, purity and yielding rate, which was developed through independent technology. It satisfies USP and EP quality standards, enabling the company to advance into the US, European, Chinese and South East Asian markets. Neovist obtained item permission on Feb. 17, and was approved for insurance medical fee on May 1. 

Daewoong Pharmaceutical made an application for its unique technology to PCT, and plans to make a market entry. A spokesperson said, "With our specialized sales and product competitiveness, we have a chance of success. And we shall continue our R&D for future market share."