Russian firm allowed to sell nonsteroidal anti-inflammatory drug to EAEU members

Lim Chang-won Reporter Posted : 2019-04-09 14:56 Updated : 2019-04-09 14:56
글씨작게 글씨크게

[Courtesy of Crystal Genomics]

SEOUL -- Crystal Genomics, a biopharmaceutical company in South Korea, has secured a revised deal with a Russian company on the sale of Acelex, a nonsteroidal anti-inflammatory drug for the treatment of osteoarthritis, to five member countries of the Eurasian Economic Union.

Acelex was approved for use in South Korea in February 2015. Last year, Crystal Genomics signed a $178 million supply deal with Brazilian pharmaceutical company Apsen Farmaceutica S.A., which will have exclusive rights to develop and distribute Acelex for 10 years after securing approval in Brazil.

In November last year, Pharm Artis won exclusive rights on the distribution of Acelex in Russia. The South Korean company said Tuesday that the contract has been revised to give the Russian partner the right to supply and sell finished Acelex products in Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan for 10 years.

Pharm Artis is responsible for clinical trials, approval, marketing and distribution. The down payment was $120,000 and the total amount including contract and contingency fees would go up to $121.49 million.