[THE INVESTOR] Ildong Pharmaceutical’s Hepatitis B treatment Besifovir is in the process of receiving the Ministry of Food and Drug Safety’s approval for sales, according to industry sources on Sept. 26.
It will be the first new drug to be developed by the South Korea pharmaceutical company, to be introduced next year.
Besifovir has completed phase 3 of clinical trials that found it to be as effective as Gilead Science’s Viread, which sold more than 100 billion won (US$90.63 million) worldwide in 2015.
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Ildong Pharmaceutical headquarters |
Originally developed by
LG Life Sciences which sold the rights to Ildong after completing the second phase clinical trials in 2012, Besifovir was also found to be equally effective as BMS Pharmaceutical’s Baraclude, another big selling drug that generated over 100 billion won last year.
Ildong Pharmaceutical is one of the country’s top 10 pharmaceutical companies and posted 470 billion won in sales last year.
By Hwang You-mee (
glamazon@heraldcorp.com)
