[THE INVESTOR] Boryung Pharmaceuticals has signed an agreement with South Africa’s Kiara Health to supply cancer drugs worth 7.8 billion won (US$6.93 million) to 10 African countries, it announced on Oct. 19.

The South Korean pharmaceutical company will provide three injectable medicines including AD mycin (Doxorubicin) to South Africa, Namibia, Botswana, Zimbabwe, Uganda, Tanzania, Nigeria, Ethiopia, Rwanda and Kenya for five years.

Kiara Health is a leading medical distributor based in Johannesburg with six branches across Africa.

Boryung won a 8.4 billion won contract in June to supply antibiotics to Kenyan and Nigerian pharmaceutical companies and will not only seek to diversify markets within the continent but also actively promote introducing novel drugs such as antihypertensive Kanarb, said Choi Seong-won, head of the company’s global operations.

By Hwang You-mee (glamazon@heraldcorp.com)