#Taiwan #Taipei #Formosa #APP13007 #Samil

Formosa Pharmaceuticals and Samil Pharmaceuticals Team Up

Formosa Pharmaceuticals, based in Taiwan, has officially announced a strategic partnership with Samil Pharmaceuticals, a well-regarded pharmaceutical manufacturer in South Korea. This collaboration is centered on the commercialization of a groundbreaking ophthalmic suspension known as APP13007, designed specifically for managing inflammation and pain post-ocular surgery.

The licensing agreement provides Samil with exclusive rights to market this innovative medication in South Korea. APP13007 features a 0.05% concentration of clobetasol propionate, a potent corticosteroid recognized for its efficacy in treating postoperative ocular conditions. This new formulation is distinguished by its incorporation of Formosa's proprietary APNT® nanoparticle technology, which enhances drug delivery and efficacy.

Erick Co, the President and CEO of Formosa Pharmaceuticals, expressed enthusiasm regarding this collaboration. He stated, "We 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."

The Significance of APP13007

APP13007 has garnered attention due to its favorable success rate in clinical trials. According to a U.S. survey conducted among 100 ophthalmic surgeons, approximately 80% of patients experienced significant pain resolution within four days following surgery, with less than 2% reporting adverse effects. These results underscore the potential impact of APP13007 on the standard of care in postoperative ocular procedures.

South Korea is noted for its extensive number of ocular surgeries, with nearly 800,000 cataract operations performed annually. Given the rise in such surgeries, the demand for effective pain management solutions is higher than ever. The collaboration with Samil aims to not only address this demand effectively but also to create substantial mutual value for both companies.

Samil Pharmaceuticals: A Key Player

Samil Pharmaceuticals has an established reputation within the pharmaceutical industry, having been founded in 1947. The company has a robust portfolio that spans several therapeutic areas, especially ophthalmology. With its commitment to quality, Samil has maintained long-standing partnerships with global entities like Samsung and Abbvie, thereby enriching its offerings in the healthcare market.

Seungbum Huh, Chairman of Samil Pharmaceuticals, commented on the partnership, saying, "Following the execution of a CMO agreement for APP13007 with Formosa in 2024, this licensing agreement further strengthens the strategic partnership between our two companies. By exclusively commercializing APP13007 in Korea, we aim to create mutual value for both parties while providing Korean healthcare professionals and patients with high-quality treatment solutions."

Future of Ophthalmology in Korea

As both companies invest in promoting APP13007, there is optimism about enhancing patient outcomes through innovative treatment options. The exclusive rights granted to Samil emphasize not only the efficacy of APP13007 but also the synergy of the expertise held by both pharmaceutical giants. This partnership stands to revolutionize ocular surgery recovery in Korea and exemplifies a strategic alignment that addresses current healthcare challenges.

In summary, the collaboration between Formosa Pharmaceuticals and Samil Pharmaceuticals marks an exciting new chapter for ocular health management in South Korea. As both companies embark on this journey, they remain committed to improving the lives of patients and setting new standards in ocular therapeutic practices.