Daewoong inks deal to export ‘Neovist’ CT agent to RussiaDaewoong 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.
More in Economy
Consumer price gains pick up speed in November
Life expectancy up 7 months for Koreans born in 2019
OECD knocks tenth of a point off Korea's 2020 growth
Bos taurus philately
$504 billion budget for 2021 ready for passage