High expectation for early commercialization and penetration into Japanese market
October 15, 2014 I LG Life Sciences Ltd. (IL-Jae Jeong) and Mochida, Japan (Mochida) signed agreement for Humira Biosimilar, treatment for the autoimmune disease, in Japan market. Mochida will have exclusive right for developing and sales of Humira Biosimilar in Japan which is currently in clinical study by LG Life Sciences. After commercialization, LG Life Sciences will supply drug product to Mochida.
LG Life Sciences said, The agreement for Humira Biosimilar was signed with Mochida following the agreement of Enbrel” and explained that the initial development fee for own biosimilar technology and milestone payment for each step will be given to us accelerate distribution for both Korea and Japan market”.
Also said that “We plan to penetrate into developing countries by various type of partnership”
Mochida was founded in 1913 as one of the Japans pharmaceutical and healthcare companies. The company specializes in product development and commercialization with experiences through biosimilar approval process.
As LG Life Sciences are supported by Regional Industry Supporting Project of government for developing Humira Biosimilar in 2011 and this license agreement is evaluated as successful project supported by government.
SOURCE: LG Life Sciences
Post Views: 94
High expectation for early commercialization and penetration into Japanese market
October 15, 2014 I LG Life Sciences Ltd. (IL-Jae Jeong) and Mochida, Japan (Mochida) signed agreement for Humira Biosimilar, treatment for the autoimmune disease, in Japan market. Mochida will have exclusive right for developing and sales of Humira Biosimilar in Japan which is currently in clinical study by LG Life Sciences. After commercialization, LG Life Sciences will supply drug product to Mochida.
LG Life Sciences said, The agreement for Humira Biosimilar was signed with Mochida following the agreement of Enbrel” and explained that the initial development fee for own biosimilar technology and milestone payment for each step will be given to us accelerate distribution for both Korea and Japan market”.
Also said that “We plan to penetrate into developing countries by various type of partnership”
Mochida was founded in 1913 as one of the Japans pharmaceutical and healthcare companies. The company specializes in product development and commercialization with experiences through biosimilar approval process.
As LG Life Sciences are supported by Regional Industry Supporting Project of government for developing Humira Biosimilar in 2011 and this license agreement is evaluated as successful project supported by government.
SOURCE: LG Life Sciences
Post Views: 94
