image credit- shutterstock
Taiwan-based Formosa Pharmaceuticals has entered into an exclusive licensing agreement with South Korea's Samil Pharmaceuticals, for exclusive rights to the commercialisation of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), a patented innovative medicine for the treatment of inflammation and pain following ocular surgery in Vietnam.
Samil is one of the most prominent Korean manufacturers of pharmaceutical products across multiple therapeutic areas, with a core specialisation and focus on ophthalmic medicines, and having long-standing partnerships with global players such as Samsung, Abbvie, Nicox, and Thea. The licensing agreement includes upfront payment, regulatory milestones, and royalties, throughout the term of the agreement.
APP13007's active ingredient is the superpotent corticosteroid, clobetasol propionate, and is derived from Formosa Pharma's proprietary APNT® nanoparticle formulation platform.
Approved by the US FDA and Health Canada, APP13007 enables a convenient and straightforward dosing regimen (twice daily for 14 days) while providing rapid and sustained relief of inflammation and pain.
The number of cataract surgeries in Vietnam is reaching 300,000 annually, with overall market demand experiencing a steady 5% annual growth. According to 2024 IQVIA sales data, the ophthalmic corticosteroid market in Vietnam generated a total annual sales value of $4.26 million.
"We will move forward steadily with the regulatory approval and launch preparations in both the Korean and Vietnamese markets, further enhancing our competitiveness in the global ophthalmology business," said Seung-Bum Huh, CEO of Samil Pharmaceuticals
