Yuyu Pharma goals to develop greater with dry eye, hair loss medication
|Robert Yu, president and CEO of Yuyu Pharma, speaks throughout a press convention held on the sidelines of the CPHI exhibition in Frankfurt, Germany, Wednesday. Joint Press Corps|
By Baek Byung-yeul
FRANKFURT ― Robert Yu, president and CEO of Yuyu Pharma, mentioned Wednesday that his mission is to make the corporate corresponding to distinguished biopharmaceutical corporations on this planet. To that finish, he mentioned the Korean firm is actively diversifying its portfolio by growing new medication corresponding to a dry eye therapy in addition to hair loss treatment.
“Yuyu Pharma has two pipelines. One is a dry eye treatment and another one is hair loss medication,” Yu mentioned throughout a press convention held on the sidelines of the CPHI exhibition in Frankfurt.
“We are currently conducting the Phase 2 clinical trial for the new dry eye drug in the United States with 240 patients. The test results will come out in the first half of 2023,” he mentioned.
Based on pre-clinical research, the corporate mentioned a dose-dependent lower in a number of dry eye-associated inflammatory mediators was noticed within the cornea and conjunctiva. These findings point out that its drug eye therapy candidate YP-P10 could have anti-inflammatory actions on dry-eye-induced ocular floor irritation.
“We are also planning to conduct a clinical trial of our hair loss medication. Dutasteride, familiar to Koreans as Avodart, is actually used to treat an enlarged prostate. But, this medication is widely used as a treatment for hair loss in Korea and Japan. The interesting thing is that clinical trials have not been conducted on whether it can be used as a hair loss medication in Europe and the U.S.,” he mentioned.
“We will hold a meeting with the U.S. FDA (Food and Drug Administration) in the first half of next year to get approval for launching clinical trials on whether this drug can be used to treat hair loss. If approved, we will start clinical trials in 2024,” the CEO added.
Yu is the grandson of the corporate’s founder, Yu Teuk-han, and son of present Chairman Yu Seung-pil. As a third-generation proprietor, he mentioned it’s his process to problem new drug developments for the way forward for the subsequent 80 years of the corporate, which celebrated its eightieth anniversary final 12 months.
The firm primarily generates its gross sales from promoting prescription drugs and well being dietary supplements, however its monetary state of affairs has worsened because of an excessive amount of spending on growing new medication. In 2021, Yuyu Pharma went into the pink with an working lack of 1.6 billion received ($1.12 million).
Nevertheless, Yu mentioned that growing new remedies should go on as that may turn out to be a turning level for the corporate.
“If we stop developing new drugs, we will be easily able to see operating profit right away. When asked whether we are on the right track in the long run, I think Yuyu Pharma can make it. It is not just about taking on new business. I am risking my life for this business,” he mentioned.
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