Launch of Gasmotin in the People's Republic of China
Dainippon Pharmaceutical Co., Ltd. ("Dainippon", President: Kenjiro Miyatake) announced today that Dainippon launches it's original gastroprokinetic agent, Gasmotin (generic name: Mosapride Citrate) in the People's Republic of China on June 16, 2001 through CyberPharm Investment Co., Ltd., a Hong Kong-based pharmaceutical marketing company.
Gasmotin is the first gastroprokinetic agent that selectively works on Serotonin 5-HT4 receptor. In Japan it was launched in October, 1998 for the treatment of gastrointestinal symptoms (heartburn, nausea and vomiting) associated with chronic gastritis.
Dainippon is positioning Gasmotin as one of their strategic products with international marketability. In the People's Republic of China, Dainippon developed the product all by theirselves and obtained Import Drug License from the authorities in October, 2000. This is the first launch of the product in overseas countries.
CyberPharm Investment Co., Ltd. is a pharmaceutical marketing company established on February 28, 2000, with one of its advantages in GI field. Dainippon has granted CyberPharm an exclusive marketing right of Gasmotin in the People's Republic of China. Under close collaboration with them, Dainippon will aim at penetrating the Chinese market.
In South Korea, in the meantime, Gasmotin is now under development by Dainippon's licensee, Daewoong Pharmaceutical Co., Ltd. For the marketing of this product in other overseas countries except the above-mentioned two countries and Taiwan, Dainippon concluded the preliminary license agreement with Takeda Chemical Industries Ltd. in February, 2001.
Outline of CyberPharm Investment Co., Ltd.:
*Name of the company : CyberPharm Investment Co., Ltd.
*Head office : Hong Kong (Room 1607, Hong Kong Plaza 188,
Connaught Road West, Hong Kong)
*Managing Director : Mr. Raymond Ho
*Number of employees : Around 150
*Date of foundation : February 28, 2000