Boryung's share price is rising on news that it acquired the global business rights to Sanofi's breast cancer treatment "Taxotel."
As of 9:06 a.m. on the 1st, Boryung was trading at 9,490 won, up 770 won (8.83%) from the previous trading day.
Boryung said on the 30th that it signed a global business acquisition agreement with French pharmaceutical company Sanofi for Taxotel, including domestic and overseas sales rights, distribution rights, marketing authorization rights, manufacturing rights, and trademark rights. The contract amount is up to €175 million (about 287.8 billion won). €161 million will be paid on the transaction closing date, and €14 million will be paid upon meeting set conditions.
Once the authorization procedures for Taxotel are completed, Taxotel will be manufactured at Boryung's Yesan Campus, and Boryung will directly handle distribution in the global market. With this agreement, Boryung joins the ranks of pharmaceutical companies that hold original (reference) drugs in the cytotoxic anticancer field.