Tuesday, May 22, 2018
CJ HealthCare to Export Biosimilar Technology to China
Bio-technology Export
CJ HealthCare to Export Biosimilar Technology to China
  • By Choi Mun-hee
  • February 1, 2018, 02:30
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CJ HealthCare CEO Kang Seok-hee (right) and NCPC GeneTech Biotechnology CEO Ma DongJie signed a contract for technology transfer regarding CJ-40001in Shijiazhuang, China on January 30.
CJ HealthCare CEO Kang Seok-hee (right) and NCPC GeneTech Biotechnology CEO Ma DongJie signed a contract for technology transfer regarding CJ-40001in Shijiazhuang, China on January 30.

 

CJ HealthCare announced on January 31 that it signed a contract with NCPC GeneTech Biotechnology to export CJ-40001, a second-generation erythropoietin (EPO) biosimilar.

According to the contract, CJ HealthCare transfers its technology for the production of CJ-40001 to the Chinese company in return for annual sales royalties and licensing fees and NCPC GeneTech Biotechnology becomes the only company entitled to conduct clinical trials regarding CJ-40001 and produce and sell the biosimilar in China.

The global second-generation EPO market had a size of approximately three trillion won in 2016 and the size of the market is continuing to grow. In China, a market worth about 300 billion won is expected to be formed once second-generation EPO products are released.

Based on the technology transfer agreement, NCPC GeneTech Biotechnology is expected to account for one-third of the Chinese market down the road. NCPC GeneTech Biotechnology is a subsidiary company of North China Pharmaceutical Company (NCPC), which is headquartered in Shijiazhuang, China.