Sam Chun Dang Pharm said on the 30th that it signed a license deal in the United States for an oral semaglutide (generic versions of Wegovy and Rybelsus). Wegovy and Rybelsus are obesity and diabetes treatments, respectively. It did not disclose the counterparty.
The total amount related to milestones is $100 million (150.8 billion won). It did not disclose detailed terms. The contract period is 10 years from the product's first sale date. After that, it will be extended in two-year increments by mutual agreement of the parties. Sam Chun Dang Pharm will receive 90% of the partner's product sales revenue.
If commercialization of the product is not possible, the counterparty may terminate the contract with 90 days' prior notice. Sam Chun Dang Pharm may terminate the contract or change the terms if the counterparty fails to achieve 50% of the expected sales for two consecutive years.