| |
| . |
 24  2/2  |
|
|
|
Subject |
Hyundai Pharmaceutical Co., Ltd. signed license-out and supply agreement of Surfolase .. |
Content |
Hyundai Pharmaceutical Co., Ltd. signed license-out and supply agreement of Surfolase with Novotek, China
Hyundai Pharmaceutical Co., LtdTD. has established a bridgehead in Chinese pharmaceutical market with their apophlegmaticexpectorant, Surfolase Capsule. Signing ceremony between Hyundai Pharm and Novotek was held at the head office of Hyundai Pharm on January 9th, 2014. The license-out and supply contract amount between these two companies is US$ 50 million.
Surfolase capsule has been a steady seller for 20 years in Korea, Europe, and Central and South America. Hyundai Pharm has in-licensed this product from original manufacturer company, Polichem S.A from 1998 and has sold more than \6.0 Billion annually.
Chinese rapid development in economy and industrialization have caused serious air pollution, therefore, 1 to 3 percent of population are suffering from asthma. More than 8% of over 40-year-old population are suffering from bronchial troublesdisease. However, since their environmental condition is getting worse by using more fossil fuel these days, the pharmaceutical market breadth is expected to be growngrow significantly.
Hyundai Pharm was authorized to proceed exploring Chinese market byhad achieved the right to do business with Chinese market from the original manufacturer company in 2011. IND was of Surfolase capsule was submitted to SFDAThey successfully submitted IND in March, 2013, clinical trial is going to start from end of 2014. , and they are preparing to start the clinical trials in China.will proceed in earnest from in the middle of 2014. Acebrophylline (Ambroxol acephyllinate) as , the major compoundofactive ingredient of Surfolase capsule is classified as a Class III new drug in China because the ingredient, has never launched in the territoryChina, so, clinical trials should be conducted in China. the IND is necessary to be proceeded. Acebrophylline is a compound that contains Ambroxol as main ingredient with acephylline.Local clinical trials, marketing and distributionThe amount of IND and development in China will beis fully invested by Novotek, and IDL (Import Drug License)the product approval is expected in the middle of 20164. |
Date |
2014-01-23 |
|
 |
 |
 |
|
