Boryung Pharmaceutical Signs Domestic Licensing Agreement for 'Onbev Jiju' with Samsung Bioepis
[Asia Economy Reporter Lee Chun-hee] Boryung Pharmaceutical announced on the 25th that it has signed a domestic licensing agreement for Samsung Bioepis's biosimilar 'ONBEVZITM (active ingredient: Bevacizumab)'.
Through this agreement, Boryung Pharmaceutical will hold exclusive domestic sales rights for ONBEVZITM 100mg and 400mg, while adding biosimilar anticancer drugs to its portfolio, further enhancing its competitiveness as the leading company in the domestic anticancer drug market share.
ONBEVZITM is a biosimilar of the tumor disease treatment drug 'AVASTIN'. It received product approval from the Ministry of Food and Drug Safety in March. It is indicated for metastatic colorectal cancer, metastatic breast cancer, non-small cell lung cancer, advanced or metastatic renal cell carcinoma, glioblastoma, epithelial ovarian cancer, fallopian tube cancer or primary peritoneal cancer, and cervical cancer. In 2019, Samsung Bioepis announced at the European Society for Medical Oncology (ESMO) that ONBEVZITM demonstrated equivalence to the original drug in terms of patient risk response ratio in a Phase 3 clinical trial involving 763 patients with non-small cell lung cancer (NSCLC).
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Kim Young-seok, Head of Boryung Pharmaceutical's Onco Division, said, "With this ONBEVZITM licensing agreement, we will be able to help improve treatment outcomes for more patients." He added, "This contract is especially significant as it marks Boryung Pharmaceutical's first introduction of a biosimilar anticancer drug, greatly expanding our anticancer drug portfolio." He further stated, "We will continue to strengthen our anticancer capabilities through various collaborations and acquisitions of 'LBA (Legacy Brands Acquisition)' drugs that can maintain a certain level of sales and market share even after patent expiration."
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