PRESS RELEASE
KUALA LUMPUR, 5 APRIL 2023 – 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.
Developed by Luye Pharma, the product is a traditional Chinese medicine made by using modern technology to ferment special red yeast rice.
Through this partnership, Luye Pharma will be able to leverage Duopharma Biotech’s longterm 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:” Doctors and patients have widely recognized the product efficacy during 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.
About Luye Pharma Group
Luye Pharma Group (Luye Pharma) is an international pharmaceutical company dedicated to the R&D, manufacturing and sale of innovative medications. The company has established R&D centers in China, the U.S. and Europe, with a robust pipeline of over 30 drug candidates in China and more than 10 drug candidates in other international markets. Luye Pharma maintains high-level international standards in novel drug delivery technologies including microspheres, liposomes, and transdermal drug delivery systems. The company has also achieved multiple innovations in new chemical entities and antibodies, and is actively making strategic developments in the fields of cell therapies and gene therapies.
Luye Pharma is developing a global supply chain of 8 manufacturing sites with over 30 production lines in total, establishing GMP quality management and international standard control systems. With more than 30 products covering the central nervous system, oncology, cardiovascular, metabolism and other therapeutic areas, business is conducted in over 80 countries and regions around the world, including the largest pharmaceutical markets – China, the U.S., Europe and Japan, as well as in fast growing emerging markets.
For more information, please visit: www.luye.cn/lvye_en