Allico Pharmaceutical Signs $6 Million Export Contract with Southeast Asia

[Asia Economy Reporter Lee Gwan-joo] Aliko Pharmaceutical announced on the 28th that it has signed a direct export contract worth 6 million USD with Thailand and the Philippines.

The contract amount is 1.1 million USD for the Philippines (Alsept tablets, Lidocaine jelly) and 5 million USD for Thailand (Alikof tablets). The company explained that the 'Alikof 60mg' contract with Thailand is the largest single product contract for Aliko Pharmaceutical.

Aliko Pharmaceutical plans to proceed with full-scale sales and marketing through a distribution contract with DKSH, which holds 90% of the pharmaceutical distribution market in Thailand, and local partner companies.

A company official stated, "This export contract was concluded at a time when the market share of the formulation dominating the respiratory disease market in Thailand is decreasing due to regulations, coinciding with the needs of local partners and Aliko Pharmaceutical's overseas marketing expansion. It was proposed to the Thailand Food and Drug Administration (TFDA) as an alternative formulation." He added, "Alikof tablets, a bronchitis treatment, are generic drugs domestically, but are classified as new drugs in Thailand. After conducting local Phase 3 clinical trials and registration, they are scheduled to be launched by the end of next year."

Since the second half of last year, Aliko Pharmaceutical has been actively expanding its business into overseas markets by signing direct export contracts for pharmaceuticals with several foreign companies in Hong Kong, Vietnam, the Philippines, Azerbaijan, Iraq, and others.