[Alpha Biz= Reporter Kim Jisun] Yungjin Pharm announced on the 10th that it has signed an agreement to export its finished antibiotic product, cefcapene pivoxil, to Zhongshan Belling, a Chinese active pharmaceutical ingredient (API) company. Cefcapene pivoxil is a third-generation cephalosporin antibiotic known for its antibacterial effects.
The contract is valued at approximately KRW 99.5 billion (around USD 75 million), with a duration of 10 years starting from the approval of the product by the National Medical Products Administration (NMPA) in China. The contract will automatically renew for one year unless either party gives written notice three months before its expiration.
Once the NMPA approves cefcapene pivoxil, Yungjin Pharm will supply the finished product for the next 10 years, amounting to about KRW 100 billion. Yungjin Pharm will manufacture the product in Korea, while Zhongshan Belling will handle marketing, distribution, and sales in China (excluding Macau and Hong Kong).
In June, Yungjin Pharm completed the application for NMPA approval for cefcapene pivoxil, with the approval process expected to take around two years.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
