Launch of Gasmotin® in South Korea
Dainippon Pharmaceutical Co., Ltd. ("Dainippon", President: Kenjiro Miyatake) announced that the Dainippon developed gastroprokinetic agent, Gasmotin® (generic name: Mosapride citrate) was released in South Korea on April 1, 2002 through Daewoong Pharmaceutical Co., Ltd. ("Daewoong", President: Jae-Seung Yoon), a Seoul-based pharmaceutical company.
Gasmotin® is the world's first gastroprokinetic agent that selectively acts on serotonin 5-HT4 receptors. In Japan, it was launched in October 1998 for the treatment of gastrointestinal symptoms associated with chronic gastritis (heartburn, nausea/vomiting).
Dainippon is working to position Gasmotin® as one of its strategic global products and subsequently in South Korea, Dainippon licensed out this product in 1999 to Daewoong, which obtained a Manufacturing License from the authorities in October 2001.
Daewoong, which is one of the major pharmaceutical companies in South Korea, is especially strong in the GI market, where they command a top market share among related GI products. Daewoong will be able to reinforce their line up of GI products with Gasmotin®, which is expected to be a market leader in the first or second year after launch. This close collaboration by Daewoong and Dainippon will help the product to deeply penetrate the South Korean market.
For the development and marketing of this product in the overseas countries other than Japan, South Korea, China and Taiwan, Dainippon has concluded a license agreement with Takeda Chemical Industries Ltd. In China, Dainippon completed development of the product and launched it in June 2001 through Cyberpharm Investment Co., Ltd.