Eurand signs licensing agreement with Daewoong Pharmaceuticals

Under the terms of the agreement, Daewoong will commercialize, subject to regulatory approval, Eurand’s novel extended-release (ER) formulation of the muscle relaxant cyclobenzaprine HCl in South Korea. Cyclobenzaprine ER has been developed using Eurand’s Diffucaps technology. Financial terms were not disclosed.

Andrew Thompson, licensing director of Eurand, said: “We are pleased to have signed this agreement with Daewoong, which marks an important step in our business development in both South Korea and southeast Asia. In this region, we hope to emulate the success that our commercially proven technologies have already achieved with currently marketed products in the US, European Union and Japan.”