Boryung announced on the 12th that it has signed a contract for the contract development and manufacturing of cytotoxic anti-cancer drugs with Taiwanese pharmaceutical company Lotus. This is the first order received approximately one month after announcing its entry into the CDMO business.
Previously, Boryung announced plans to raise 175 billion won through a third-party allocation of new shares to Boryung Partners last month, adding investment in the CDMO business to its funding usage plan. Since 2020, it has been implementing a Legacy Brands Acquisition strategy by acquiring large products from global pharmaceutical companies that have expired patents and producing them in-house.
Under this contract, Boryung will be responsible for the production of Lotus's anti-cancer injection drugs. The medication will be supplied to the Taiwanese market starting in 2026 after going through regulatory approval processes. The product name has not been disclosed in accordance with the agreement.
This production will take place in a budget factory's anti-cancer injection drug line, which has obtained Good Manufacturing Practice (GMP) certification from the European Union (EU). To expand its overseas reach, Boryung plans to obtain EU-GMP certification for oral drugs next year in addition to its existing EU-GMP certification for cytotoxic injection drugs.
Boryung Chief Strategy Officer Kim Sung-jin noted, 'This CDMO contract is a recognition of Boryung's global-level manufacturing capabilities and reliability,' adding, 'We will further strengthen our differentiated CDMO business by manufacturing original essential medicines for global supply.'