Hospira Strikes Deal for South Korean Biogenerics

8 October 2009 (Last Updated October 8th, 2009 18:30)

Hospira has signed a business cooperation agreement with South Korea's Celltrion and Celltrion Healthcare to distribute eight of the company's prospective biogeneric products. The distribution agreement, which covers the US, Europe, Australia, New Zealand and Canada will also see both c

Hospira has signed a business cooperation agreement with South Korea's Celltrion and Celltrion Healthcare to distribute eight of the company's prospective biogeneric products.

The distribution agreement, which covers the US, Europe, Australia, New Zealand and Canada will also see both company’s collaborating on the manufacturing and supply of the products.

After regulatory approval, Hospira and Celltrion will co-exclusively market the drugs, with the products independently commercialised under each party's brand name.

Celltrion Healthcare and Celltrion CEO and chairman Jung-Sin Seo said that Hospira has the capabilities and experience to successfully sell biogenerics in these important markets.

"We believe this partnership will benefit both companies by combining Hospira's broad outreach with Celltrion's advanced biologic manufacturing capabilities," Seo said.

Financial details of the agreement were not disclosed.