Daewoong exports $92.4 mn Depot injection tech to UAE
The S.Korean firm transferred to Zydus Worldwide DMCC the right of its DWJ108U's commercialization in the US
By Dec 11, 2023 (Gmt+09:00)
South Korea's Daewoong Pharmaceutical announced on Monday that it exported its technology for clinical development and commercialization rights of its DWJ108U Depot injection (Leuprolide) product in the US to a UAE-based Zydus Worldwide DMCC.
The contract is worth $92.38 million, representing 9.55% of Daewoong's 2022 sales. The development and commercialization milestone is $25.5 million, and the supply contract amount is $66.88 million.
Under this contract, Daewoong Pharmaceutical will transfer the joint development, product approval, and commercialization rights of DWJ108U depot injection to Zydus for the US region.
Zydus is scheduled to conduct US clinical trials of DWJ108U depot injection and will begin commercialization after receiving product approval from the US Food and Drug Administration (FDA).
The pure profit generated immediately after commercialization will be paid to Daewoong Pharmaceutical according to the agreed-upon ratio between the two companies, and this amount is not included in the contract amount.
Write to In-Hyuk Park at park@hankyung.com
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