Researchers are conducting laboratory experiments at Daewoong Pharmaceutical, one of the subsidiaries of Daewoong Group. The group recently announced that three of its subsidiaries, including Daewoong Pharmaceutical, Daewoong Bio, and Daewoong Therapeutics, will be leading a government-initiated project focused on localizing raw materials for hyperlipidemia treatments. This project, known as the 2024 Material and Parts Technology Development Project, aims to reduce the country's heavy reliance on imported raw materials for hyperlipidemia medications, which currently stands at 87 percent. The overarching goal of the project is to develop the necessary technologies to produce third-generation statin-based hyperlipidemia drugs within Korea, particularly focusing on drugs like pitavastatin. Over a period of 54 months until December 2028, the initiative will receive significant R&D support from the government. Daewoong Group plans to optimize manufacturing processes by implementing continuous processing methods to ensure consistent quality, improve production efficiency, reduce costs, and enhance overall competitiveness in the global market for raw materials and finished drugs.