JW Holdings signs supply deal with Gland Pharma
[THE INVESTOR] JW Holdings has signed a contract with India’s Gland Pharma to supply raw materials of antibiotics drug ertapenem worth US$26 million, the company said on May 25.
Under the agreement, JW Holdings will supply material for the drug that treats serious infections, including pneumonia and diabetic food, for five years from 2020.
Gland Pharma plans to produce the antibiotics medication using the ingredients and its pharmaceutical freeze-drying technology in order to export to the US and Canadian markets.
“Led by the export contract, JW Holdings will make a foray into advanced markets, said JW Holdings CEO Jeon Jae-gwang in a press release.
The Korean company developed the first generic drug of Merck’s imipenem in 2004. Since then, it has been sharpening its competitive edge in the next-generation antibiotics like doripenem and ertapenem, the company said.
By Park Han-na (hnpark@heraldcorp.com)