[THE INVESTOR] JW Pharmaceutical said on March 12 that it has developed a tablet-type copycat of Avodart, a treatment for hair loss and enlarged prostate developed by GlaxoSmithKline, to target the 1 trillion won (US$939 million) global market.
It is the first Korean company to develop the drug in a tablet formulation, giving a competitive edge over other capsule generic versions by offering drug administration convenience without the risk of leakage or spoilage.
“The pill has advantages over the capsule formulations for the development of high value-added products such as complex drugs,” said Lee Sang-jun, head of global business division at JW Holdings.
In September 2017, JW Pharma registered a patent for the generic drug, which will be launched in the latter half of this year.
The company is also eyeing overseas markets, and is discussing a license-out deal with a global drug maker.
“We want to target countries with hot weather and humidity as they have high demand for tablet formulations,” Lee said.
Avodart, one of the key products of GlaxoSmithKline, has been facing generic competition since January 2016 as its patent has lapsed here. Local firms including Hanmi Pharmaceutical, Daewoong Pharmaceutical and Dong-A ST have launched their own versions.
By Park Han-na (firstname.lastname@example.org)