Caregen said on the 5th that it signed a supply contract worth about $11.6 million (Hanwha 17 billion won) with BIOA, an Iran-based aesthetics and healthcare distributor, for the weight-loss health functional food "Korglutide."
Korglutide is an oral health supplement, not an injectable or oral glucagon-like peptide-1 (GLP-1) drug.
BIOA is a major distributor of aesthetics, medical devices, and healthcare in Iran, with a nationwide network that spans hospitals, clinics, pharmacies, wellness centers, and specialized clinics across medical and beauty channels. Under the contract, Caregen will enter BIOA's medical distribution infrastructure across Iran. Korglutide has previously been exported to key countries including India, China, and Brazil.
Chief Executive Jeong Yong-ji of Caregen said, "Iran faces a growing burden of obesity and metabolic diseases, but access to GLP-1 injectables is limited, making Korglutide a needed option in the market," adding, "With a culture of abstaining from alcohol, adherence to weight-loss programs is high, so the effects of the oral Korglutide are expected to be even more pronounced."