Korentec Obtains Product Approval from Indian Regulatory Authorities for Artificial Joint Products

[Asia Economy Reporter Lee Gwan-joo] Corentec announced on the 27th that it has obtained product approval from the Central Drugs Standard Control Organization (CDSCO) of India for its artificial joint products.

The approved products include ▲ artificial hip joints ‘BENCOX’, ‘BENFIX’ ▲ artificial knee joints ‘LOSPA Primary & Revision’, ‘EXULT’ ▲ artificial shoulder joints ‘CORALIS Total & Reverse’. These products are already being sold in the domestic and US markets.

Corentec has focused on the growth potential of the Indian market and, while starting the product approval registration process, has been forming strategic partnerships with specialized artificial joint distributors in India for sales. The company is signing contracts with three specialized artificial joint distributors by dividing India into regions.

A Corentec official explained, “The Indian artificial joint market is a large market entered by multinational artificial joint companies, with 80% of products being imported,” and added, “We expect sales expansion based on the competitiveness of our artificial joint products, which have already been proven in the global market.”

Corentec has expanded into a total of 23 countries, including the US and India, and is also pursuing entry into other countries such as Australia, Russia, and Brazil.