Formosa Pharmaceuticals, based in Taiwan, has signed an agreement with Samil Pharmaceuticals from South Korea. This deal gives Samil the exclusive rights to sell clobetasol propionate ophthalmic suspension (APP13007), a special medicine used to treat inflammation and pain after eye surgery in South Korea.
The medicine, which is made from a powerful ingredient called clobetasol propionate, was developed using Formosa’s unique APNT® nanoparticle technology. It was approved by the US FDA in 2024. This medication works quickly to relieve pain and inflammation and only needs to be used twice a day for 14 days.
The deal includes payments to Formosa, as well as royalties based on Samil’s sales. South Korea has a high number of eye surgeries, including cataracts, and this agreement is expected to meet the growing demand. Formosa specializes in developing medicines for eye and cancer treatments.
Executive Statement
According to Erick Co, President and CEO of Formosa Pharmaceuticals, they are pleased to expand our relationship with Samil with the mutual goal to serve Korean ocular surgery patients. Samil's rich history and status of being a leader in ophthalmology will ensure that APP13007, poised to be the first ophthalmic steroid introduced since 2008, will reach its full potential.
According to Seungbum Huh, Chairman of Samil Pharmaceuticals, following the execution of a CMO agreement for APP13007 with Formosa in 2024, this licensing agreement further strengthens the strategic partnership between their two companies. By exclusively commercializing APP13007 in Korea, an innovative therapy whose efficacy and safety have been demonstrated through global clinical trials and U.S. FDA approval, they aim to create mutual value for both parties while providing Korean healthcare professionals and patients with a high-quality treatment option.