Luye Pharma and Duopharma reach strategic partnership
China-based Luye Pharma Group has entered an agreement with Duopharma Marketing Sdn Bhd, a wholly-owned subsidiary of Duopharma Biotech Berhad (Duopharma Biotech), which grants the latter exclusive marketing and distribution rights to a cholesterol management product in Malaysia.
Developed by Luye Pharma, the product is a traditional Chinese medicine made by using modern technology to ferment special red yeast rice, a natural alternative for cholesterol management.
Through this partnership, Luye Pharma will be able to leverage Duopharma Biotech’s long-term expertise in the cardiovascular therapeutic field, both in terms of its excellent promotion in academic and extensive distribution network throughout clinics and hospitals, further expanding the accessibility of the product in Malaysia. The two companies expect that the product will grow at a compound annual growth rate of double digits in the local market over the next 10 years.