South Korea’s Chong Kun Dang announced on Monday that it will export its anemia biosimilar Nesbell (darbepoetin-α) to Oman-based Menagene Pharmaceutical Industries.

Under the deal, Chong Kun Dang will supply the drug to Menagene and receive down payment and milestones.

Menagene will apply for marketing approval of the drug before exclusive distribution in six Middle East countries -- Oman, Saudi Arabia, United Arab Emirates, Kuwait, Qatar, and Bahrain. The deal value of the contract is kept under wraps in accordance with the agreement between the two companies.

Shares of Chong Kun Dang finished 1.07 percent higher at 141,500 won on Monday.

Nesbell, a biosimilar version of NESP, is known to be effective for the treatment of anemia of patients with chronic renal failure. The drug was launched in Korea and Japan in 2019.

Last year, Chong Kun Dang signed a contract to export the drug to Lotus International, which is in charge of the Asian business of U.S. pharmaceutical company Alvogen. Lotus is seeking regulatory approval for marketing in Taiwan, Vietnam and Thailand.

Menagene, a pharmaceutical company with advanced biopharmaceutical production facilities in Oman, is selling biosimilars and anticancer drugs across the Middle East.

By Pulse

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