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Suh Jung-jin, Honorary Chairman of Celltrion (Photo: Celltrion) |
[Alpha Biz= Reporter Kim Jisun] Celltrion has entered into a KRW 100 billion (approx. USD 76 million) contract with global pharmaceutical company Teva for the contract development and manufacturing (CDMO) of the active pharmaceutical ingredient (API) for the migraine treatment "Ajovy."
According to Celltrion on the 22nd, the contract amount is KRW 100.4 billion, accounting for 4.6% of last year's revenue. The contract will run until July 30, 2025.
Teva, the developer of Ajovy, is a North American partner of Celltrion Group. Teva manages the marketing and sales of Celltrion’s blood cancer treatment "Truxima" and breast cancer treatment "Herzuma" in North America. Since 2015, Celltrion has been collaborating with Teva on technology transfer and scale-up efforts for Ajovy production, with commercial manufacturing commencing in 2017. The current contract is an extension for the supply of Ajovy’s API. Ajovy is a long-acting antibody treatment that prevents headaches in patients with acute and chronic migraines and was approved by the U.S. FDA in September 2018.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
