Family owned, Austrian company CROMA-PHARMA has signed a 10 year comprehensive and important distribution agreement with Hugel Inc. of Korea. Hugel Inc. is the leading producer of anti-aging and Botulinum Toxin products in South Korea and Asia.
Andreas Prinz, Managing Director and Owner of CROMA-PHARMA said, "CROMA-PHARMA is always committed to bringing the most advanced anti-aging and medical products to patients and doctors alike. With this agreement CROMA-PHARMA will add the most sophisticated Botulinum Toxin products to its well established range of Filler Products sold by the brand-name of Princess®. These Princess® Fillers (Rich, Volume and Filler), produced by CROMA-PHARMA itself, are all based on Hyaluronic Acid. Intensive research and experience made CROMA-PHARMA the leading European producer and specialist of Hyaluronic Acid-based products. These new Botulinum Toxin-based products will perfectly complement our existing portfolio, meeting the demands of both aesthetic doctors and customers as well."
Dr. Kyeong-Yeop Moon, C.E.O of Hugel Inc. said in a statement: Since 2001 Hugel has focused its research on only one area in order to develop the best possible anti-aging products available anywhere. We do our very best to develop innovative, top-quality products that completely satisfy our customers. With CROMA-PHARMA, we have found the perfect partner to distribute and market our products everywhere outside Asia.
CROMA-PHARMA will become the exclusive Distribution Partner and will be responsible for conducting the required clinical trials and studies. CROMA-PHARMA expects to invest an estimated two-digit million Euro amount for conducting these studies. Following the final approval of FDA, EMA and other authorities, CROMA-PHARMA will then market the new products in Europe, North America and Oceania markets.
Source: Business Wire
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