Korea United Pharm’s W38m contract canceled

[DISCLOSURE] Korea United Pharm (033270) announced on Oct. 12 that its 38.4 billion won (US$34.18 million) contract with Jiangxi JiminKexin Group to supply its incrementally modified drug Cilostan Tabs has been canceled upon the Chinese company’s request. This amounts to 23.7 percent of the South Korean pharma company’s sales in 2015. 

The contract to supply Clanza Tabs will remain in effect. 

Cilostan reduces blood clots and Clanza relieves pain and inflammation. 

(theinvestor@heraldcorp.com)