CMG Pharm Establishes Animal Medicine Division... "Entering Pet Healthcare"

Jeon Hyung-woo, General Manager (Executive Director) of the Animal Pharmaceuticals Division at CMG Pharmaceutical.

[Asia Economy Reporter Lee Gwanju] CMG Pharmaceutical, an affiliate of Cha Biotech, announced on the 19th that it has established a new animal pharmaceuticals division and is officially entering the pet healthcare market.

CMG Pharmaceutical has recruited Jeon Hyungwoo, former head of the pet pharmaceuticals division at EagleVet, as an executive director and appointed him as the head of the animal pharmaceuticals division. Director Jeon graduated from Seoul National University’s College of Veterinary Medicine and has been responsible for the development, sales, and marketing of animal pharmaceuticals through his experience at Estin, Korea Elanco Animal Health, and EagleVet.

CMG Pharmaceutical plans to develop animal pharmaceuticals and health functional foods based on the technology accumulated in the human pharmaceuticals market and the expertise built at the CMG Health Research Institute. In particular, the company’s strategy is to introduce differentiated products by utilizing CMG Pharmaceutical’s strength in ODF (Orally Disintegrating Film) technology.

CMG Pharmaceutical explained, "With the establishment of this new division, we expect to diversify our revenue structure and achieve quantitative growth by entering the pet healthcare market."