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Biz News Korea(Eng)
Ilyang Pharmaceutical to export leukemia treatment to Colombia
- Collected
- 2016.06.29
- Distributed
- 2016.06.30
- Source
- Go Direct
The final agreement between the two companies comes almost a year after they signed an initial agreement in August last year, which allows Biopas, the 10th-largest drug maker in Colombia, to sell Supect. The deal also comes with licensing fees and certain milestone payments worth $22 million in total.
Under the terms, Biopas that has operations in 15 countries in South America will have exclusive marketing rights of Supect in nine countries - Mexico, Ecuador, Venezuela, Peru, Chile, Panama, Costa Rica, and Dominican Republic, and export volume to each country will vary. Ilyang expects total sales from these countries to reach several tens of billions of won until patent expires.
By Lee Dong-in
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