|Ahn Jae-yong (right), senior vice president and head of SK Chemicals VAX business group, and Daewoong Pharmaceutical CEO Jeon Seung-ho pose after signing the agreement at Daewoong headquarters in Seoul Wednesday.|
SK Chemicals said Thursday that it plans to market Skyzoster, its shingles vaccine, jointly with Daewoong Pharmaceutical.
Shingles, also known as herpes zoster, is a viral disease and the outcome of a reactivation of the varicella-zoster virus, causing a painful skin rash with blisters on parts of the body. Symptoms include pain in the area with some experiencing nerve pain. The disease can also cause chicken pox or vision loss.
Skyzoster is an inactivated vaccine, consisting of virus particles, bacteria, or other pathogens, which have been cultured and then killed, reducing infectivity and making it safer than live attenuated vaccines.
Under the accord, the two companies will market the drug together to general and local hospitals.
Daewoong Pharmaceutical plans to improve the convenience of patients and expand the market for shingles vaccine in Korea based on the sales and marketing infrastructure it has in existing hospitals.
SK Chemicals aims to achieve a domestic market share of 50 percent this year by supplying Skyzoster stably, which has settled rapidly in the market.
“Daewoong Pharmaceutical will contribute to improving the quality of life of the people and synergizing the market expansion of Skyzoster with our differentiated four-step marketing strategy and strong sales force,” Daewoong CEO Jeon Seung-ho said.
SK Chemicals also showed enthusiasm about the new agreement.
“Demand for shingles vaccine has been steadily increasing as the aging population increases,” said Ahn Jae-yong, senior vice president and head of SK Chemicals VAX business group. “We plan to expand our share in the market dominated by global pharmaceutical companies with a stable supply of domestic vaccines.”