Daewoong Pharmaceutical will join forces with AstraZeneca Korea (CEO: Tom Keith-Roach) to strategically co-promote Nexium (generic name: esomeprazole).

Nexium is used to treat symptoms of gastroesophageal reflux disease (GERD) and other conditions involving excessive stomach acid.

Through this co-promotion agreement, AstraZeneca will promote Nexium to the main general hospitals in Korea while Daewoong will be responsible for promotion at smaller hospitals and clinics.

As the #2 selling prescription medication product in the word, Nexium entered the Korean market in 2001 after receiving approval as a drug used to treat symptoms of gastroesophageal reflux disease (GERD) and other conditions involving excessive stomach acid such as Zollinger-Ellison syndrome. It is also used to promote healing of erosive esophagitis (damage to your esophagus caused by stomach acid). Nexium may also be given to prevent gastric ulcer caused by infection with helicobacter pylori (H. pylori), or by the use of non-steroidal anti-inflammatory drugs (NSAIDs).

AstraZeneca Korea CEO Tom Keith-Roach stated that, “For many years Daewoong has proven to be a business leader in the pharmaceutical industry and this strategic partnership will enable us to offer enhanced products and services for patients in the future. In addition, through this opportunity we expect to further develop our relationship into a mutually beneficial partnership.”

Daewoong Pharmaceutical CEO, Jong Wook Lee, expressed that, “Through the combination of Daewoong’s business expertise and the effectiveness of Nexium, the world’s first proton pump inhibitor (PPI), Daewoong has created a win-win partnership with AstraZeneca Korea.”