Samchundang Pharm Signs Exclusive License Agreement for Oral GLP-1 in 11 European Countries
Upfront Payment and Milestones Total 50.8 Billion Won
Limit-Up Close on the 26th
Samchundang Pharm announced on the 26th that it has signed an exclusive license and commercialization definitive agreement for the orally administered GLP-1 (generic versions of Rybelsus for diabetes treatment and Wegovy for obesity treatment), which it is developing with a global pharmaceutical company based in Europe, covering 11 countries including the United Kingdom.
The total amount of the upfront payment and milestones (stage-based technology fees) is 30 million euros (approximately 50.8 billion won).
In the European market, which is centered on tenders, the company has finalized a profit-sharing structure under which it will receive 60% of the net profit from product sales.
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Meanwhile, on the same day, Samchundang Pharm closed trading on the KOSDAQ market at 757,000 won, up 174,000 won (29.85%) from the previous day.
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