Ildong Hyaltech, a subsidiary of Ildong Pharmaceutical, said Thursday that it has signed an agreement with Pollux, a Brazilian aesthetic firm, to supply its hyaluronic acid (HA) fillers exclusively.
|Pollux CEO Nancy Rangel (fourth from left) and Ildong Hyaltech’ Head of Management Planning Team Kim Kyung-suk (far right) pose for photographers after signing the agreement Thursday.|
Under the accord, the company will supply Pollux with IDHF-001 and seven other products (domestic product name Neobelle). Pollux plans to aggressively market the product in the Brazilian market after receiving the approval for IDHF in Brazil.
The two companies, together with local experts, have discussed the physical properties of IDHF and the test methods for acquiring the approval from the Brazilian authorities.
“Based on the agreement, the company plans to expand the aesthetic items supplied to Pollux and launch a full-scale expansion in the South American market,” a company official said. “We expect to be able to enter the market faster and more steadily through partnership strategy with local partners who have experience and expertise.”