Mundipharma Signs a Major USD 600 million Deal with Kolon Life Sciences
Mundipharma, a well-known name in the pharmaceutical market announces that it has signed a major deal with Kolon Life Sciences to bring Invossa, the worlds first gene therapy for knee osteoarthritis to Japan. At an impressive USD 600 million, this agreement gives exclusive rights to Mundipharma to develop, market, and distribute Invossa in Japan which has the oldest population in the world. Prevalence of knee osteoarthritis in men and women aged over 40 being 42.6 percent and 62.4 percent respectively, Invossa will appease the unmet patient need in Japan. A non-surgical treatment, Invossa provides a long-term effect for knee osteoarthritis with an intra-articular injection which demonstrates sustained pain reduction and functional improvement for articular joint for one year following a single injection.
Speaking at the occasion, Raman Singh, CEO, Mundipharma averred We are always looking to identify areas in which we can make the most difference. While we will go through the rigorous process of conducting clinical trials and getting Invossa® registered in Japan, it is very satisfying to think of the millions of patients who could benefit from this revolutionary medicine in the near future following this agreement.""We are delighted to extend our partnership with Kolon Life Science. This is a prime example of how our partners can effectively leverage the strength of our network capability and experience to ensure that hospitals, GPs and patients have access to new breakthrough treatments such as Invossa®," he added.
Founded in the year 1952, Mundipharma is a global network of independently associated companies with presence in over 120 countries and brings in revenue of $ 19.8 million.
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