[Courtesy of Crystal Genomics]
SEOUL -- Acelex, a nonsteroidal anti-inflammatory drug for osteoarthritis treatment, which was developed by an innovative biopharmaceutical company in South Korea, will be exported to Brazil for the first time in Latin America.
Crystal Genomics said in a regulatory filing Tuesday that Apsen Farmaceutica S/A, a Sao Paulo-based healthcare company, has signed an exclusive deal worth 198.9 billion won ($179 million) to sell ACELEX capsule 2mg in Brazil for ten years. The deal is conditional because the new drug should be approved by Brazilian authorities within 12 months.
Apsen is in charge of marketing and distribution in Brazil. "This is the first export of Acelex to South America in recognition of its efficacy and competitiveness," Crystal Genomics CEO Cho Joong-myung said,
Acelex (Polmacoxib), a selective COX-2 inhibitor designed to maintain the pain-reducing properties of traditional non-steroidal anti-inflammatory drugs (NSAIDs), was approved for use in South Korea in 2015. In March, the developer signed a domestic distribution contract with Daewoong Pharmaceutical to sell Acelex to small hospitals.
The South Korean company said that during a phase 3 clinical trial, Acelex showed superiority in improving osteoarthritis symptom index, compared to its reference drug, Pfizer's Celebrex.
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