LG Life Sciences Ltd. (CEO Jung Il-jae) is set on taking over the markets in China and Japan with a new independently-developed product.
The company has recently signed an exclusive sales contract for the Chinese market with China’s Weijian Pharma Group to sell the ovulation induction medication Follitrope.
Follitrope is a treatment to increase follicle stimulating hormone (FSH) developed using the company’s own recombinant DNA methods. It has a stable medicinal purity and effect compared to previous urinary-derived FSH products. As its biological, immunological, and physicochemical properties are identical with natural FSH, Follitrope is a medication treating female infertility that has been proved for its safety and effectiveness.
Jung said, “The contract provided a chance for us to promote the safety and effectiveness of the treatment for female infertility developed using domestic recombinant DNA technology. Also, the company is making its best effort, together with our partner company, to provide new opportunities and value to customers in the Chinese female infertility market through this product.”
Also, in October, LG Life Sciences and Japan-based Mochida Pharmaceutical signed a deal to co-develop and commercialize a biosimilar for the autoimmune disease treatment drug Humira. A biosimilar is a drug designed to have the active properties of another drug that has previously been licensed.
Mochida will have exclusive rights for the development and sales of the Humira biosimilar in Japan, which is currently in clinical studies by LG Life Sciences. After commercialization, LG Life Sciences will produce and supply finished products to Mochida.