- Increased cooperation through osteoporosis drug “Forsteo,” and preventive migraine treatment “Emgality.”
- Will continue market expansion through SK chemicals' accumulated sales competence
SK chemicals is strengthening its partnership with Lilly Korea.
SK chemicals (CEO Kwang-hyun Jeon) announced on the 5th that, beginning on the 1st of this year, it will expand the partnership for Lilly Korea's osteoporosis treatment “Forsteo” and preventive migraine treatment “Emgality.”
SK chemicals began its co-promotion activities for “Forsteo” in April 2018 to some medium-sized hospitals and clinics, while expanding its sales activities to all medium-sized hospitals in the following year.
The two companies have been combining their efforts in the sales and marketing of preventive migraine treatment “Emgality” to larger hospitals beginning in June of last year, while SK chemicals alone focused on promoting the drug to clinics.
Building on the mutual trust and positive synergy created by the two companies through their partnership on “Forsteo” and “Emgality,” SK chemicals and Lilly Korea will be expanding their co-promotion activities to all hospitals and clinics beginning on the 1st of January.
Lilly Korea CEO Alberto Riva said, “Through the co-promotion for the past four years, I have become convinced of SK chemicals' sales capabilities.” and “Through cooperation with SK chemicals, we want to make Emgality and Forsteo known to more health care providers. We believe these efforts will improve the treatment experience for the health care providers and enhance the treatment outcome for patients.”
SK chemicals CEO Kwang-hyun Jeon said, “SK chemicals and Lilly Korea have continued to build mutual trust and expand our partnership, beginning with Cymbalta in 2017 to our partnership on these products.” He emphasized, “Through active marketing activities, we will do our best to enable more people to receive the treatment benefits of Forsteo and Emgality.”
Forsteo is a bone growth stimulator known for having offered a new paradigm in the treatment of osteoporosis by stimulating bone formation rather than preventing bone deterioration. According to IQVIA, Forsteo recorded 21.7 billion won in 2019, leading the osteoporosis treatment market. Forsteo is a bone formation promoting agent with 19 years of extensive clinical experience since its release.
Emgality prevents migraines by blocking CGRP, which is one of the neurotransmitters known to cause migraines. Since its release in 2018, Emgality recorded worldwide sales of $160 million (about 200 billion won) by the following year. In Korea, it was released in 2019.