GeoYoung Signs Allergy Treatment Supply Agreement with Korea UCB Pharma

[Asia Economy Reporter Byeon Seon-jin] Pharmaceutical logistics company GeoYoung Group announced on the 21st that it has signed a new partnership agreement with the multinational pharmaceutical company Korea UCB Pharma for the supply of the allergy treatment drug Zyrtec tablets (Cetirizine Hydrochloride). The main content of the contract is that from January 1 next year, GeoYoung will exclusively handle sales and marketing of the over-the-counter Zyrtec 10 tablets in the domestic allergy treatment market.

This is the first time GeoYoung has entered domestic marketing for an over-the-counter drug from a multinational pharmaceutical company. Pharmaceutical logistics companies typically perform tasks such as packaging, storage, and transportation of existing pharmaceutical companies' drugs. Regarding this contract, GeoYoung explained that “we have expanded our business area by presenting a new business model instead of settling for the existing logistics business.”

Zyrtec is a representative product for allergy treatment, achieving over 10 billion KRW in annual domestic sales. In the domestic antihistamine market, where more than 30 generic drugs have been launched, it has maintained the highest market share over the past five years. It is used to treat seasonal allergic rhinitis, perennial allergic rhinitis, allergic conjunctivitis, chronic idiopathic urticaria, as well as dermatitis and eczema.

GeoYoung Chairman Cho Sun-hye said, “By utilizing our supply system and distribution know-how, we will supply Zyrtec more stably to existing customers and focus on raising awareness among new customer groups through new advertising and marketing.” Seo Hyun-hee, head of the allergy department at Korea UCB Pharma, said, “Through this cooperation, we will strengthen the delivery of academic value and actively engage in marketing activities so that more patients can experience the benefits of Zyrtec.”