Recipharm has signed an agreement with Daewoong, the leading Korean-based pharmaceutical company with a strong presence in respiratory therapeutics, for a 10-year extension of its existing contract for the manufacture and supply of Erdosteine API. The finished Erdosteine product is manufactured by Daewoong Pharmaceutical at its Korean facilities. Erdosteine is indicated for the treatment of acute and chronic respiratory diseases.
According to a press release, Daewoong will annually purchase minimum API quantities of Erdosteine worth a total of about €25 million from Edmond Pharma, a Recipharm Group company. In return, Daewoong has secured exclusive rights in Korea and Thailand to sell both the original product and to register and market all the new formulations, based on Erdosteine, which are currently under development at Edmond Pharma.