QUESTCOR EXPANDS EMITASOL LICENSE WITH AHN-GOOK.
Questcor also announced that Ahn-Gook has received governmental approval for the marketing of Emitasol in the Republic of Korea. Ahn-Gook is expected to begin sales of Emitasol in the Republic of Korea in the first half of 2003. Questcor and Ahn-Gook originally entered into a license agreement to market Emitasol in the Republic of Korea in December of 2000. The original license agreement has been expanded to grant Ahn-Gook the right to market Emitasol in China, India, Thailand, the Philippines, Vietnam, Malaysia, Singapore, Indonesia, Sri Lanka, Pakistan, Cambodia, and Taiwan, in addition to the Republic of Korea and the Democratic People's Republic of Korea. Emitasol is being developed globally for use in treating chemotherapy induced emesis and diabetic gastroparesis, a digestive disorder occurring in diabetic patients.
"The expansion of the original agreement with Ahn-Gook now gives them the right to market Emitasol in every major Far East country, except Japan," commented Charles J. Casamento, chairman, president, and CEO of Questcor. "With the launch of Emitasol in the Republic of Korea expected in the first half of 2003, Ahn-Gook will be well positioned to expand the market for Emitasol in the Far East. This is another important step in our strategy to establish a world-wide network of licensees and distributors to market Questcor products."
Ahn-Gook Pharmaceutical Co., Ltd, headquartered in Seoul, Republic of Korea, develops, manufactures and sells prescription pharmaceuticals, as well as over-the-counter drugs, which are used for the treatment of a wide range of diseases. Currently, the company focuses its development efforts in gastroenterology, oncology and diseases of the respiratory system.
Questcor Pharmaceuticals, Inc. is an integrated specialty pharmaceutical company focused on the acquisition and marketing of acute care and critical care hospital/specialty pharmaceutical and related healthcare products. Questcor currently markets five products in the U.S.: HP Acthar(R) Gel, an injectable drug that is commonly used in treating patients with infantile spasm, or West Syndrome; Ethamolin(R), an injectable drug used to treat enlarged weakened blood vessels at the entrance to the stomach that have recently bled, known as esophageal varices; Glofil(TM)-125 and Inulin in Sodium Chloride, which are both injectable agents that assess how well the kidney is working by measuring glomerular filtration rate, or kidney function; and VSL#3(TM), a patented probiotic marketed as a dietary supplement, to promote normal gastrointestinal (GI) function. As part of a strategy to develop its products globally, Questcor has entered into 28 contractual relationships with public and private companies including: Ahn-Gook Pharmaceuticals of Korea; Aventis Pharmaceuticals Inc. of Bridgewater, NJ; Beacon Pharmaceuticals, Ltd. of Tunbridge Wells, Kent, United Kingdom; CSC Pharmaceuticals Handels GmbH of Vienna, Austria; Dainippon Pharmaceutical Co. Ltd., of Osaka, Japan; Orphan Australia of Melbourne, Australia; Rigel, Inc. of South San Francisco, CA; Sigma-Tau Finanziaria S.p.A of Rome, Italy; Tularik, Inc. of South San Francisco, CA and VSL Pharmaceuticals of Ft. Lauderdale, Fla.
For more information, call 510/400-0700.
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|Date:||Feb 1, 2003|
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