Pharma Research Products (PRP) announces majority ownership in a new generic botulinum toxin injection production company
Seongnam-si (Seoul), South Korea – May 7, 2018 – Pharma Research Products Company Ltd. (PRP) a Korean publicly listed firm (KOSDAQ 214450) engaged in the development of medical esthetic products announced that it has secured majority ownership of botulinum toxin type A injection (ReNtox) production facility of BioCND, a South Korean venture company. The name of BioCND has been changed to Pharma Research BIO (PR Bio).
The newly acquired company, the PR Bio, has its plant located in the industrial estate at Gangneung-si on the East Coast of South Korea. The newly built modern plant has been designed to meet the Ministry of Food and Drug Safety (MFDS - KFDA) GMP guidelines. The 6,000 square meter plant has initial capacity of 2 million vials of the ReNtox per year.
Mr. Jung, CEO of PRP commented “Acquisition of rights for the manufacture and commercialization of ReNtox injection completes PRP’s proprietary line of facial esthetic products. PRP already has its line of hyaluronic acid fillers (Cleviel series) including the world’s highest content hyaluronic acid filler (Cleviel contour 50 mg) in the market, micro injection filler for total facial rejuvenation (Rejuran injection) containing PDRN: DNA fractions isolated from reproductive cells of wild salmon, and a large complement of functional cosmetics for distribution through esthetic clinics. With the addition of ReNtox injection in its line of facial esthetics PRP has gained a very strong position not only in Korea but also in the worldwide facialesthetic market.” The worldwide facial esthetic market is estimated to have reached USD 6.5 billion in 2016. This market is growing with a CAGR of 11.5% and expected to reach USD 17.2 billion by 2025.
Mr. Jung also added “that botulinum type A toxin is a marvelous drug and almost every month there is a new publication about new therapeutic indication for this drug. The case to engage in the development of new indications for this novel drug compound is compelling and PRP would welcome partnership dialog.”
About Pharma Research Products Ltd.
Pharma Research Products Ltd. is a South Korean biopharmaceutical company with headquarters in Seongnam-si, Gyeonggi-do. Pharma Research Products Ltd. is on the forefront of research in regenerative medicine in the Republic of Korea and is determined to expand its scope of R&D and manufacturing activities into important markets all over the world. Currently, the company supports marketing and sales of several unique products, including the Rejuran product line. Pharma Research Products Ltd is listed on KOSDAQ.
For more information, please visit www.pr-products.co.kr
+1 845 598 6701