CROMA-PHARMA announced the signing of a significant Distribution … – Business Wire (press release)
SEOUL, South Korea–(BUSINESS WIRE)–Family owned, Austrian company CROMA-PHARMA announced today the signing
of a 10 year comprehensive and important distribution agreement with
Hugel Inc. of Korea. Hugel Inc. is the leading producer of anti-aging
and Botulinum Toxin products in South Korea and Asia.
At the signing, Andreas Prinz, Managing Director and Owner of
CROMA-PHARMA said: „CROMA-PHARMA is always committed to bringing the
most advanced anti-aging and medical products to patients and doctors
alike. With this agreement CROMA-PHARMA will add the most sophisticated
Botulinum Toxin products to its well established range of Filler
Products sold by the brand-name of Princess®. These Princess®
Fillers (Rich, Volume and Filler), produced by CROMA-PHARMA itself, are
all based on Hyaluronic Acid. Intensive research and experience made
CROMA-PHARMA the leading European producer and specialist of Hyaluronic
Acid-based products. These new Botulinum Toxin-based products will
perfectly complement our existing portfolio, meeting the demands of both
aesthetic doctors and customers as well“.
Dr. Kyeong-Yeop Moon, C.E.O of Hugel Inc. said in a statement:
Since 2001 Hugel has focused its research on only one area in order to
develop the best possible anti-aging products available anywhere. We do
our very best to develop innovative, top-quality products that
completely satisfy our customers. With CROMA-PHARMA, we have found the
perfect partner to distribute and market our products everywhere outside
CROMA-PHARMA will become the exclusive Distribution Partner and will be
responsible for conducting the required clinical trials and studies.
CROMA-PHARMA expects to invest an estimated two-digit million Euro
amount for conducting these studies. Following the final approval of
FDA, EMA and other authorities, CROMA-PHARMA will then market the new
products in Europe, North America and Oceania markets. CROMA-PHARMA will
promote the new products under their own brand. Products shall enter the
markets in 2018. Forecast of sales until 2021 estimate returns of more
than 100 million Euro in this dynamically growing market.
CROMA-PHARMA´s constant search for new trends and product innovations
will bring more additions to its well-established product-portfolio in
About Botulinum toxin (from Wikipedia, the free encyclopedia)
Botulinum toxin is a protein
produced by the bacterium
botulinum. Three forms of botulinum toxin type A and one form of
botulinum toxin type B are available commercially for various cosmetic
and medical procedures.
CROMA-PHARMA is a family owned, internationally orientated
pharmaceutical company, based in Korneuburg, Austria. CROMA-PHARMA´s
areas of activity are orthopedics, ophthalmology, dermatology and
contract manufacturing. CROMA-PHARMA is dedicated to improving people’s
quality of life through innovative, consistently simple and effective
Constant focus on research & development and thrive to produce only the
best and most innovative products enables CROMA-PHARMA to master the
challenges of modern health care.
CROMA-PHARMA currently operates in 110 countries through 14 of their own
subsidiaries and a network of distribution partners.
For further information on CROMA-PHARMA please visit http://www.croma.at
About Hugel Inc.
Hugel Inc. is a market leader in the South Korean aesthetic market with
a portfolio of products that includes cosmeceuticals, neurotoxins and
dermal fillers. The company has enjoyed rapid growth in recent years and
is focused on developing or acquiring innovative new products and
technologies in the pharmaceutical, cosmetic, and medical device fields
that complement its existing portfolio. Hugel Inc. recently expanded its
manufacturing capabilities with the construction of a new production
facility. For further information on Hugel Inc please visit http://www.HugelPharma.co.kr