Dongkook Pharmaceuticals said Friday that it has signed an agreement with the Madagascan government to develop natural medicines and health supplements jointly.
The deal was a part of a memorandum of understanding signed by the Madagascar government and North Chungcheong Province on Sept. 22 for the mutual benefit of exchanging natural resources.
Madagascar Health Minister Mamy Lalatiana Andriamanarivo and Dongkook 동국제약 Vice President Kim Kwang-jong 김광종 signed the MOU.
“We are honored to be the first company to receive the benefits of the MOU between North Chungcheong Province and Madagascar,” Kim said. “Dongkook Pharmaceutical will make efforts to develop next-generation million-seller products such as Madecassol and Centellian 24.”
Madecassol’s main ingredient comes for Centella Asiatica, a plant mainly produced in Madagascar.
The South Korean province also expressed its intention to support the MOU between Dongkook and Madagascar.
“We have arranged the meeting with anticipation that the rich resources of Madagascar and the Dongkook Pharmaceutical's know-how to develop natural medicines will produce great synergy,” said Lee Si-jong 이시종, governor of North Chungcheong Province who arranged the cooperation of the two sides.