Korea’s Dong-A signs new agreements to be a global player

October 5, 2011 11:46 AM

Dong-A Pharmaceutical Corporation was founded as a pharmaceutical and hygiene material wholesaler named Choong-Hee Kang’s Wholesaler in Joonghak-Dong, Jongro-Ku, Seoul in 1932. In 1949, the company changed its name to Dong-A Pharmaceutical Corporation and they are investing in chemicals as well as biopharmaceutical research.

Dong-A has several biopharmaceuticals in development which are all biosimilars. Their G-CSF biosimilar, Leucostim is on the market in some countries and lately Dong-A declared a joint venture (JV)  to develop trastuzumab biosimilar.

In order to develop and commercialize DA-3111, the biosimilar version of the cancer drug trastuzumab, Dong-A has recently signed a contract with Meiji Seika Pharma Co. Ltd. from Japan to form a JV.

The details of the agreement were not disclosed but the companies will market the trastuzumab biosimilar in their own markets in 2017. Trastuzumab is a humanized monoclonal antibody marketed as Herceptin by Roche and Genentech. Herceptin has a $3.3 billion of worldwide sales in the first half of 2011 and an another South Korean company, Celltrion is the most close company to market their own version, according to latest reports.

Additionally, Dong-A declared that, the company will develop a biopharmaceutical industry complex including biosimilar production plant in Songdo International Business District, Korea.

The plant will be contstructed with Meiji and after the construction, starting with trastuzumab biosimilar, more products from Dong-A’s pipeline like PEG-G-CSF and interferon beta will be manufactured to be commercialized worldwide.

 

Source: Dong-A Pharmaceutical Co. Ltd.

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