Daewoong inks deal to export ‘Neovist’ CT agent to Russia

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Daewoong inks deal to export ‘Neovist’ CT agent to Russia

Daewoong Pharmaceutical has signed a deal to sell its patented CT agent “Neovist” in Russia, the first of many products it plans to export to the burgeoning market, it announced yesterday.

The agent is slated for release in 2013, with a goal of 14.5 billion won ($12.6 million) in revenue within five years.

The company reached a partnership agreement with major Russian pharmaceutical company Alvils to sell the product in Russia, it said.

Daewoong said Neovist was approved by both the U.S. and European Pharmacopoeia for its low ratio of impurities.

It plans to target other markets such as the U.S., Europe, the Middle East and China at a later date.

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