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Under the terms of the agreement, Daewoong will annually purchase minimum API quantities of erdosteine of approximately EUR 25 million from Edmond Pharma, a Recipharm Group company.
Recipharm announced that it has signed an agreement with Korean-based pharmaceutical company, Daewoong, to extend an existing manufacturing and supply contract for the API erdosteine a further 10 years.
Under the terms of the new agreement, Daewoong will annually purchase minimum API quantities of erdosteine of approximately EUR 25 million from Edmond Pharma, a Recipharm Group company. In return, Daewoong obtains exclusive rights in Korea and Thailand to sell both the original product and to register and market all the new formulations, based on erdosteine, which are currently under development at Edmond Pharma.
The first licensing agreement was signed in 1994, making Daewoong Recipharm’s exclusive partner in Korea and from 2008 for Thailand as well. The product has been sold under the name Erdos in the Korean market since 1997.
Erdosteine, which is used to treat acute and chronic respiratory diseases, is available in capsule, sachet, suspension, and dispersible tablet formulations. The chemical synthesis of API to the manufacture of capsules and dispersible tablets is carried out in Recipharm’s Paderno Dugnano facility, located just outside of Milan.