Korea to export drug to China
Kanarb (Fimasartan) is one of the most successful drugs ever developed by a Korean pharmaceutical company
Kanarb, a high blood pressure drug developed by Korea's Boryung Pharmaceutical Company, is likely to be exported to China in what is seen as the first such instance for a Korean-made medication.
The company signed a license contract with China's Harbin Gloria Pharmaceuticals at its head office in Seoul. The Korean drug company would be paid a US$5.4m licensing fee, with a steady income of at least $75.5m for the next 10 years.
Kanarb (Fimasartan) has been one of the most successful drugs ever developed by a Korean pharmaceutical company. It has been sold in 13 countries including Mexico, Brazil, and Russia and is worth $115m. With the latest licensing agreement with the Chinese company, the total export volume would be around $200m.
