Dongkuk Pharmaceutical is set to enter the Latin American market with its prostate enlargement treatment, Uresko Tablet. On July 2, the company announced it has signed a licensing and supply agreement with Spanish pharmaceutical firm FAES FARMA for the improved combination drug aimed at treating benign prostatic hyperplasia.
Under the agreement, FAES FARMA will sell Uresko Tablet in 13 Latin American countries, including Mexico, Colombia, Peru, and Chile, over the next 10 years. The total value of the contract is approximately 39 billion won, which includes a contract fee and up to 2 million euros (about 3.5 billion won) in development and sales milestones.
FAES FARMA operates in Europe and Latin America, boasting a robust business network and local sales and marketing capabilities. The company has been strengthening its portfolio of specialty pharmaceuticals, particularly in the urology sector.
FAES FARMA plans to sequentially carry out product approval processes in each country and will launch the product following the completion of these approvals. Dongkuk Pharmaceutical aims to expand its contracts to additional regions, including Brazil, as part of its global market entry strategy.
A representative from Dongkuk Pharmaceutical stated, "The entry of Uresko into the Latin American market marks the first step in the global launch of the world's first combination drug. We aim to establish a sustainable business foundation in the prostate enlargement treatment market."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.