Huonland, a joint venture between Huons and Beijing Northland, said Monday that its Olopatadine Hydrochloride (HCL) eye drop 0.1 percent has obtained marketing approval from China National Medical Products Administration (NMPA).

The Olopatadine HCL is an eye drop for treating eye inflammation caused by an allergic reaction. According to a national medical institute in China, about 10 percent of its population, which is more than 100 million, has allergic conjunctivitis.

Huonland, a joint venture between Huons and Beijing Northland, has won regulatory approval for its Olopatadine Hydrocholride 0.1 percent eye drop for treating allergic eye-inflammation. (Huonland)

The prescription market of Olopatadine HCL eye drops is about 34.56 billion won ($29.22 million). The market grew by 45.5 percent from 2019, and it is believed that the demand for allergic conjunctivitis treatments has recently surged with the increase of allergic diseases for environmental reasons.

While the Olopatadine HCL eye drop market shows rapid growth in China, the world’s second-largest economy has been heavily dependent on a single product, Patanol, developed by Novartis, which takes up about 75 percent of the entire market.

Huonland expects a positive response from the market when the company distributes its Olopatadine HCL 0.1 percent as China tends to prefer its products.

The joint-venture company plans to participate in provincial biddings across China from the fourth quarter of this year based on the NMPA approval. It would also increase the market share and distribution rate of Olopatadine HCL from 2021 by teaming up with a distributor to sell the product throughout China.

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