The US Food and Drug Administration (FDA) has approved South Korean company SK Chemicals’ patch-type Alzheimer’s drug, SID710.
SID710, which has already secured approval in the European Union in 2013, is the generic version of Novartis’ Exelon Patch for the treatment of dementia symptoms associated with Alzheimer’s disease.
The latest approval marks the first time a South Korean pharmaceutical company has applied to the US regulator for an Alzheimer’s patch on its own and secured it.
SK Chemicals CEO Jeon Kwang-hyun said: “It is meaningful that SK Chemicals’ high technology skill was acknowledged through the FDA approval.”
Kwang-hyun added that the company are aiming to distribute the product into the South American and Southeast Asian markets.
SID710, currently being sold in 19 countries including Australia and Canada, was developed independently by SK Chemicals in 2010.
The drug, which contains rivastigmine, supports patients with Alzheimer’s disease who mostly fail to take their medicine and face difficulties in swallowing tablets to attach the patch on the skin once a day for continuous delivery to the body.
Patients should use the patch only once a day. However, the drug’s efficacy is similar to other oral medications.
The treatment has been sold in Korea under the brand Wondron patch since 2014.
Since the establishment of Sunkyung Textiles in 1969, SK chemicals has expanded into a chemical and life sciences enterprise representing South Korea.
The company’s life sciences business is dominated by pharmaceuticals and bio. It is anchored by healthcare solutions that cover patient care from diagnosis to treatment and prevention.