Glufast® (Generic Name: Mitiglinide), a Rapid-Acting Insulin Secretagogue, to be Launched in South Korea

This is to announce the launch on October 1 in South Korea of Glufast^® Tablet (generic name: mitiglinide), a fast-acting insulin secretagogue which was created and developed by Kissei Pharmaceutical Co., Ltd. (President and CEO: Mutsuo Kanzawa) and whose technology had been licensed out to Choongwae Pharma Corporation in Seoul, South Korea. The launch follows Glufast's inclusion in the drug price list.

In March 2003, Kissei executed a technology licensing-out agreement with Choongwae Pharma Corporation to provide exclusive development and marketing rights of Glufast^® Tablet in South Korea. Clinical studies have been carried out thus far by Choongwae. The company obtained approval in February 2006 and has been making preparations to launch sales. The drug was launched on October 1, 2006 as Glufast^® Tablet, the same name as that used in Japan.

Glufast^® is a diabetic medicine that promotes insulin secretion by stimulating the pancreatic β-cells. It demonstrates effects more promptly after dosing as compared with conventional insulin secretagogue (sulfonylurea (SU) drugs), so it brings insulin secretion closer to its natural patterns and improves postprandial hyperglycemia. Because of its duration of action, Glufast^® is less liable to trigger hypoglycemia than conventional SU drugs, and is expected to alleviate the wearing-out of pancreatic β-cells.




- Overview of Choongwae Pharma Corporation -
Location of head office: Seoul, South Korea
Established: 1945
Representative director and president: Lee Kyung Ha
Capital: 158 billion won
Sales: 311.4 billion won (2005)
No. of employees: Approximately 1,200
Line of business: Development, manufacture and sales of pharmaceutical products