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news.Recipharm has secured a €25m contract from Daewoong Pharmaceutical to supply Erdosteine active pharmaceutical ingredient (API).
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The deal extends Recipharm’s existing contract to manufacture the API until 2025.
Under the new deal, Daewoong will annually purchase minimum API quantities of Erdosteine worth about €25m from Edmond Pharma, a Recipharm Group company.
The API will be synthesized at Recipharm’s Paderno Dugnano facility in Italy. Daewoong will manufacture the finished product at its South Korean plants.
The deal allows Daewoong to exclusively market the drug and any future formulations in Korea and Thailand.
Erdosteine is indicated to treat acute and chronic respiratory diseases. It is available in capsule, sachet, suspension and dispersible tablet formulations.
The drug is marketed in more than 40 countries, with 75% of this supplied by Edmond Pharma.
Erdosteine sales & business development director Pierfrancesco Manzo said: "Daewoong Pharmaceutical is our first customer for the purchase of our Erdosteine API.
"We are therefore delighted to have secured this substantial extension of our contract with the company and believe strongly that this sets the basis for significant new growth of Erdosteine in Korea."