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Biz News Korea(Eng)
CJ expects first novel medicine 30 years after pharma business
- Collected
- 2017.07.04
- Distributed
- 2017.07.05
- Source
- Go Direct
이미지 확대The company hopes the new drug will grow as the country’s first blockbuster medicine with annual sales of more than 100 billion won ($87.3 million), said Kim Byung-moon, CJ Healthcare’s R&D vice president, adding more candidates are in the pipeline.
A phase III study of the GERD drug was completed in spring and a new drug application (NDA) will be filed with the Ministry of Food and Drug Safety in Korea in September.
Tegoprazan, if launched, will represent CJ Group’s first independently developed medicine 33 years after it jumped into the pharmaceutical industry. CJ CheilJedang, the group’s unit responsible for food, life science and logistics business, successfully developed a bacillus pyocyaneus vaccine in 2003 and received marketing approval of it as the country’s seventh home-grown vaccine, but it was not commercially launched due to uncertain market prospects.
The GERD market in Korea is valued at some 350 billion won and the market driver is proton pump inhibitors (PPIs).
Tegoprazan has been under spotlight for its long-acting efficacy, no food and drug interaction and strong inhibition of excessive gastric secretions at night compared to existing PPIs.
CJ Healthcare sealed a 100 billion won license deal for the drug with a Chinese partner in 2015. CJ Healthcare is eligible to receive about 10 percent of future sales as royalty from 2020 in China where the GERD market is worth 3 trillion won.
By Kim Hye-soon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]