Shinbaro, an osteoarthritis treatment developed by GC Biopharma, is becoming a fully in-house product of Daewon Pharmaceutical (003220.KS).
Daewon Pharmaceutical said on the 21st that it has begun producing Shinbaro Tablets, a botanical drug for osteoarthritis, at its own facilities.
The company said the shift is significant because a partnership that began with a co-marketing deal for Shinbaro led to the acquisition of assets tied to the product and now to in-house manufacturing capability. Daewon Pharmaceutical plans to ensure a stable supply of the drug based on a system in which it directly handles production, distribution, marketing and sales, and to further strengthen its competitiveness in musculoskeletal treatments.
Launched in 2011, Shinbaro was the fourth botanical new drug developed in South Korea and is used to treat inflammation, pain and osteoarthritis. Daewon Pharmaceutical signed a co-marketing agreement with GC Biopharma in 2018 and began handling domestic distribution, marketing and sales of Shinbaro. In 2024, it signed an asset transfer agreement and completed the takeover of all related assets, including the manufacturing and marketing approval rights.
Daewon Pharmaceutical, which has been selling Shinbaro as its own product since January 2025, will now also handle manufacturing directly.
By completing a business structure that moved from co-marketing to product acquisition and then to in-house production, the company has laid the groundwork for developing Shinbaro over the medium to long term.
Daewon Pharmaceutical invested about 5 billion won to expand production facilities for the switch to in-house manufacturing, significantly strengthening its manufacturing capacity. On that basis, the company plans to align production and supply plans closely with market demand and to ensure a stable supply by improving quality control and operational efficiency.
The company also intends to develop Shinbaro, alongside Pelubi, into a core product driving its musculoskeletal treatment business. It plans to link the sales and marketing capabilities it has built in anti-inflammatory and analgesic drugs with its in-house production base to boost synergies across its product lineup and expand its position in the osteoarthritis treatment market.
"With this shift to in-house production, we have built an independent system covering the entire process from production to sales of Shinbaro," an official at Daewon Pharmaceutical said. "By securing a stable supply chain and strengthening product competitiveness, we will develop Shinbaro into a core product in the musculoskeletal treatment market."
