Daewon Pharmaceutical Begins In-House Production of Osteoarthritis Treatment 'Shinbaro'

[Financial News] Daewon Pharmaceutical has commenced in-house production of 'Shinbaro Tab.,' a natural medicine for the treatment of osteoarthritis. By transitioning the Shinbaro business, which began with joint sales, to a structure where the company directly handles manufacturing following the acquisition of product assets, the company is strengthening its musculoskeletal treatment business.
Daewon Pharmaceutical announced on the 21st that it has started in-house production of Shinbaro. Shinbaro is a natural medicine used for anti-inflammatory, analgesic, and osteoarthritis treatment, and is the fourth domestic natural new drug launched in 2011.
Daewon Pharmaceutical took charge of the domestic distribution, marketing, and sales of Shinbaro after signing a joint sales agreement with GC Biopharma Corp. in 2018. Subsequently, in 2024, it acquired Shinbaro-related assets, including the manufacturing and sales license, through an asset transfer agreement. Since January of last year, it has continued the business by converting Shinbaro into its own product.
With this in-house production, Daewon Pharmaceutical will now take direct responsibility for manufacturing. To transition to in-house production, the company invested approximately 5 billion won to expand its production facilities. The plan is to align production and supply plans with market demand and enhance quality control and operational efficiency.
Daewon Pharmaceutical plans to develop Shinbaro as a core product alongside its existing musculoskeletal treatment, Peluvi. The strategy is to expand its business in the osteoarthritis treatment market by combining its sales and marketing capabilities secured in the anti-inflammatory analgesic sector with its own production base.
"We have established an independent system that encompasses the entire process from production to sales of Shinbaro," a Daewon Pharmaceutical official said. "We will foster Shinbaro into a key product in the musculoskeletal treatment market by securing a stable supply chain and strengthening product competitiveness."

[email protected] Jeong Sang-hee Reporter