First export to South America
CrystalGenomics, a promising South Korean research and development company in medicine and pharmacy, announced on September 4 that it signed a conditional contract with Brazil's Apsen Farmaceutica for the supply and exclusive sales of Acelex 2mg Capsules. The contract is worth 198.9 billion won (US$165.7 million).
Acelex, developed by CrystalGenomics, is a non-steroidal anti-inflammatory agent that alleviates symptoms or signs of osteoarthritis. It was approved by the Korea Food and Drug Administration (KFDA) in 2015 as domestic new medicine number 22.
"The contract is a conditional one to be fulfilled after Absen Pharmastica gets an approval from the Brazilian Food and Drug Administration within twelve months,” the company said.
With the agreement, CrystalGenomics supplies the finished Acelex products to Apsen. The contract period is up to 10 years after the Brazilian license is granted. Apsen will be responsible for sales authorization, marketing and distribution in Brazil.
"This contract is the first export to Latin America, which means the efficacy and competitiveness of Acelex has begun to be recognized in that part of the world," said Cho Jung-myeong, CEO of Crystal. "We are aiming to spread Acelex rapidly to all regions of Central and South America through cooperation with the Apsen."