[Alpha Biz= Paul Lee] Samchundang Pharm announced on the 26th that it has signed a definitive agreement with a Europe-based global pharmaceutical company for the exclusive licensing and commercialization of an oral GLP-1 drug under development, covering 11 countries including the United Kingdom.
The product is a generic version of oral GLP-1 therapies for diabetes and obesity, referencing Novo Nordisk’s Rybelsus and Wegovy.
Under the agreement, Samchundang Pharm will receive a total of €30 million (approximately KRW 50.8 billion) in upfront payments and milestone fees. The company also finalized a revenue structure under which it will receive 60% of net profits from product sales in Europe, a market largely driven by public tenders.
Meanwhile, shares of Samchundang Pharm surged in the KOSDAQ market on the same day, closing at KRW 757,000—up KRW 174,000, or 29.85%, from the previous session.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
