12 October 2023 | Thursday | News
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TaiGen indicates that the agreement involves the development and marketing rights of the new drug in Malaysia and Singapore. Y.S.P. Industries (M) Sdn. Bhd. will be responsible for the New Drug Application (NDA) and market sales within the authorized region. The contract duration starts from the signing date and lasts for 20 years from the initial product sale.
Kuo-Lung Huang, Chairman and Chief Executive Officer of TaiGen, said, "The YSP Group has deep roots in Taiwan, and its subsidiary, Y.S.P. Industries (M) Sdn. Bhd., boasts over 30 years of outstanding experience in pharmaceuticals, drug development, and sales in Malaysia and Singapore. In collaboration with Y.S.P. Industries (M) Sdn Bhd., TaiGen is now expanding into the Southeast Asia market, offering a new selection of medication to meet the local medical needs. This partnership marks another significant milestone for TaiGen in terms of licensing its product overseas."
Both parties, in consideration of the competitiveness of the pharmaceutical market and concerns about proprietary information, currently refrain from disclosing the name of the new drug.