Pharmaceutical exports up to 413 billion won worth of idiopathic pulmonary fibrosis treatment to Greater China

Pharmaceutical exports up to 413 billion won worth of idiopathic pulmonary fibrosis treatment to Greater China: COMPANY / Reporter Kim Jisun / 2023-01-31 21:04:22

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

(사진= 대웅제약)

[Alpha Biz=(Chicago) Reporter Kim Jisun] Daewoong Pharmaceutical announced on the 31st that it has signed a contract with CS Pharmaceuticals (CSP) in the U.K. to export Bersiporocin (DWN12088), an innovative new drug for the treatment of idiopathic pulmonary fibrosis.

The contract with CS Pharmaceuticals amounts to about KRW 413 billion (USD 336 million, USD) due to the expansion of indications including Bersiporocin's idiopathic pulmonary fibrosis in China, Hong Kong and Macau.

Daewoong Pharmaceutical said, "Bersiporocin's technology export contract to China is meaningful in that it is Daewoong Pharmaceutical's first First-in-class innovative new drug to enter the global market."

Through this contract, Daewoong Pharmaceutical will receive royalties of up to KRW 93.4 billion (USD 76 million, USD) from CSP and royalties at a rate of more than two digits based on annual net sales, and CSP will be in charge of clinical development and commercialization of Bersiporocin in China.