Luye Pharma Group (Luye Pharma), an international pharmaceutical company dedicated to the R&D, manufacturing and sale of innovative medications, today announced that it has entered an agreement with Duopharma Marketing Sdn Bhd, a wholly-owned subsidiary of Duopharma Biotech Berhad (Duopharma Biotech), which grants the latter exclusive marketing and distribution rights to a cholesterol management product in Malaysia.
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Developed by Luye Pharma, the product is a traditional Chinese medicine made by using modern technology to ferment special red yeast rice, a natural alternative for cholesterol management.
Through this partnership, Luye Pharma will be able to leverage Duopharma Biotech’s long-term expertise in the cardiovascular therapeutic field, both in terms of its excellent promotion in academic and extensive distribution network throughout clinics and hospitals, further expanding the accessibility of the product in Malaysia. The two companies expect that the product will grow at a compound annual growth rate of double digits in the local market over the next 10 years.
Andy Siow, APAC Regional Director of Luye Pharma (International) said: “The product’s efficacy has been widely recognized by doctors and patients over long-term clinical use in Malaysia. The partnership with Duopharma Biotech will enable this highly trusted and naturally produced traditional Chinese medicine to reach more patients in need.”
“This partnership and collaboration with Luye Pharma enables all patients in Malaysia to have choices in the therapies and medications they need for their well-being.” said Leonard Ariff Abdul Shatar, Group Managing Director, Duopharma Biotech Berhad.
Source: Luye Pharma
