Nutrition 21, Dong Sung Pharmaceuticals enter into distribution agreement
Dong Sung to distribute Chromax and Diachrome in the Republic of South Korea.
09/09/05 Nutrition 21, Inc. the leading developer and marketer of chromium-based nutritional supplements, has announced that it has entered into an exclusive distribution agreement with Dong Sung Pharmaceuticals Co. Ltd., a leading Seoul-based pharmaceutical company, for the sale of Chromax and Diachrome in the Republic of South Korea.
Under the agreement, Dong Sung is required to secure regulatory approval from the Korea Food and Drug Administration prior to selling or marketing the products. Nutrition 21 will support Dong Sung with the regulatory submission, including providing all relevant scientific data demonstrating the safety and efficacy of the brands. Dong Sung's marketing strategy will rely heavily on its sales force of more than 100 representatives located throughout Korea's 10 largest metropolitan areas who will detail physicians through pharmacies, clinics and hospitals.
Nutrition 21's primary marketing strategy is to establish demand for its consumer brands in the United States. However, the company has reported increasing interest in its products from prospective international marketing and distribution partners. Nutrition 21 is currently exploring possible strategic alliances with companies in Europe, India, Canada, Japan and other Southeast Asian countries.
