[THE INVESTOR] Korea Kolmar has signed an agreement with Abbott Korea for the exclusive supply of drugs, it announced on July 27.
It will be a contract manufacturing organization for two treatments for central nerve system disorder, including Aerica capsule that contains the active substance pregabalin. Kolmar Korea’s own lab developed the pharmaceutical preparation and it has been approved to manufacture the drug.
The domestic market for pregabalin, known to be effective for reducing central neuropathic pain, is estimated to be 43 billion won (US$37.93 million). And when Pfizer’s patent for the use of pregabalin in the neuropathic pain in adults, branded under Lyrica capsules, expires in August 2017, it is expected to expand more.
“We have signed a sales agreement with a multinational pharmaceutical giant for our own approved product, and it will be a stepping-stone for us to grow the company as an international CMO,” said the company.
The Korean branch of Abbott is looking to gain on the CNS treatment market and to jump into domestic generic drug business.
By Hwang You-mee (glamazon@heraldcorp.com)
