UNIMED SIGNS LICENSE AGREEMENT FOR DISTRIBUTION OF MARINOL IN SOUTH KOREA
UNIMED SIGNS LICENSE AGREEMENT FOR
DISTRIBUTION OF MARINOL IN SOUTH KOREA
SOMERVILLE, N.J., Nov. 1 /PRNewswire/ -- UNIMED, Inc. (NASDAQ: UMED) announced today the signing of a licensing and supply agreement with Keun Wha Pharmaceutical Co., Ltd. of Seoul for the distribution of Marinol(R) (dronabinol) in South Korea. Under the terms of the agreement Keun Wha will initiate and fund certain clinical work, will obtain product registration in South Korea, will pay UNIMED a licensing fee upon registration and will purchase its Marinol requirements from UNIMED.
Keun Wha is a leading supplier of pharmaceuticals in the infectious disease market in South Korea. It has established alliances with leading international pharmaceutical companies including Warner-Lambert (U.S.), Fujisawa (Japan) and Bayer (Germany).
Harold J. Tenoso, Ph.D., UNIMED's chairman and chief executive officer, said, "UNIMED is delighted to be collaborating with Keun Wha and to be entering into its first Asian alliance with Marinol. We are negotiating with other potential overseas partners and hope to announce the signing of additional agreements in coming months."
Marinol is UNIMED's antinausea pharmaceutical for the treatment of cancer chemotherapy patients. It is currently undergoing clinical trials for appetite stimulation and prevention of weight loss in AIDS patients. The FDA has granted Marinol Orphan Drug designation for this use.
UNIMED, Inc. specializes in the development and marketing of pharmaceuticals, with emphasis on therapy and supportive care of cancer and AIDS patients. The company has brought two pharmaceuticals to market and has a portfolio of drugs in development.
/CONTACT: Charles P. Harrison, president of UNIMED, 908-526-6894/
(UMED) CO: UNIMED, Inc.; Keun Wha Pharmaceutical Co., Ltd. ST: New Jersey IN: MTC SU: LIC PS -- NY002 -- 0091 11/01/91 09:27 EST