À̹ÌÁö È®´ë Kolon Life Science`s Invossa-K
Korea¡¯s Kolon Life Science said on Wednesday its gene therapy Invossa-K will be exported to Hong Kong, Macau and Mongolia, marking the first overseas shipment of the knee osteoarthritis drug after marketing approval.
The company signed a 16.9 billion won ($15.23 million) five-year contract with Zhong Ji 1 International Medical Group (Hong Kong) Limited for exclusive distribution in Hong Kong and Macau. The deal value accounts for 14.3 percent of sales last year.
Kolon shares closed Thursday up 2.23 percent at 73,300 won in Seoul.
Hong Kong and Macau authorities accept drug labeling approved in Korea for Invossa sales in the local market. The drug will be prescribed to patients without additional clinical trials for the first 12 months, and the data to be accumulated during the period will serve for the application of official regulatory approval, Kolon Life Science said.
The company also said it will export the drug to Mongolia under a five-year contract with local distributor Vim Med LLC. Sales are expected to begin in the second half of this year after regulatory submission and import procedures in Mongolia.
Invossa-K is the world¡¯s first approved gene therapy treatment for osteoarthritis. More than 1,000 Invossa injections have been administered at hospitals in Korea since the launch at the end of last year, getting closer to becoming a homegrown blockbuster drug.
By Shin Chan-ok and Minu Kim
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]