Daewon Pharmaceutical is going to enter the U.S. market with its flagship cold medicine "Coldaewon" (Coldawon A in export name).
Daewon Pharmaceutical said on Sept. 24 it will ship the initial shipment of Coldaewon A and begin selling it starting in the western U.S. region from the end of this month. Initial supplies are worth about $200,000.
Coldaewon A is composed of three types: Coldaewon Cold A Syrup, Coldaewon Cough A Syrup, and Coldaewon Nose A Syrup.
Previously, Daewon Pharmaceutical improved its ingredients and medicines to match the situation in the local market and obtained a permission for export from the Ministry of Food and Drug Safety in July, and finished registering the U.S. Food and Drug Administration (FDA)'s national drug code. Starting in October, the company plans to start airing TV commercials for Koreans in the U.S.
Starting with the Korean community in the U.S., Daewon Pharmaceutical is planning to gradually expand its scope across the U.S. The export products will also be expanded to include gastrointestinal medicine, liquid vitamin pills and "Coldaewon Kids," a cold medicine for children.
"The cold medicine developed with a stick-type pouch to eat by squeezing it is the first time in the U.S.," CEO Choi Tae-hong said. "We plan to make inroads into the entire U.S. area by advancing into Walgreens and CVS, which are major U.S. pharmacy chains, in the future. After successful entry into the U.S., we will expand to markets in Central and South America such as Canada, Brazil and Peru."