[THE INVESTOR] ST Pharm announced on Sept. 19 that it has signed a 152 billion won (US$135.50 million) contract with Gilead Sciences Ireland to supply anti-viral active pharmaceutical ingredient for hepatitis C treatment.
ST Pharm has been providing the ingredient to Gilead Sciences -- a US-based pharmaceutical company -- that manufactures Sovaldi and Harvoni, treatments for hepatitis C.
The contract amounts to 110 percent of the South Korean company’s revenue last year and the contract lasts from Jan. 1 to Nov. 30, 2017.
ST Pharm is a contract manufacturing organization unit of pharmaceutical heavyweight Dong-A Socio Group, and its revenue from exporting active ingredients for Gilead’s hepatitis C drugs accounted for about 60 percent of its total revenue of 138 billion won in 2015. It went public in June.
By Hwang You-mee (
glamazon@heraldcorp.com)
