Daewoong Pharma Ends Southeast Asia Supply Contract With Abbott
Bitget2026/11/02 09:55- Daewoong Pharma terminated its KRW 69.23 billion remaining supply contract with Abbott Products Operations, effective Feb. 28, 2024.
- The agreement covered exclusive sales of pitavastatin calcium tablets in four Southeast Asian markets.
- Both parties agreed to terminate amid weak local sales and inability to maintain Korean product authorization.
- The contract ran from Nov. 2, 2016, to Nov. 2, 2026, with an original value of KRW 72.8 billion.
- Sales and upfront and milestone payments totaled KRW 3.57 billion, representing 4.91% fulfillment of the original contract.
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