Date: 2012-12-16
Type of information: Joint-venture agreement
Compound:
Company: Teva Pharmaceuticals (Israel) HANDOK Pharmaceuticals (South Korea)
Therapeutic area:
Type agreement: joint-venture
Action mechanism:
Disease:
Details: Teva Pharmaceutical Industries and Handok Pharmaceuticals have announced an agreement to establish a business venture in South Korea, allowing Teva to gain entrance into the Korean pharmaceutical market, currently valued at approximately $ 14 billion. Under the terms of the agreement, Teva will contribute its global resources, with responsibilities for manufacturing and supplying a wide range of affordable and innovative medicines. Handok’s primary responsibility will be in sales and marketing, distribution, and regulatory affairs. Teva will have a controlling stake in the new business venture, with a profit split of 51%/49% to Teva and Handok, respectively.
The Teva-Handok business venture is expected to commence activities in the next few months, subject to receipt of applicable regulatory approvals. The business venture will enable patients to gain access to Teva\'s branded innovative therapies, such as the multiple sclerosis treatment Copaxone® and branded generics. Excluding Japan, this agreement is Teva\'s first alliance in East Asia.
Financial terms: Financial details of this agreement are not being disclosed.
Latest news:
