Can Daewoong’s P-CAB Unsettle Competition?
Company Seeking Partnerships For Markets Such As China And The US
Daewoong Pharmaceutical has successfully completed a Phase III clinical trial of next generation gastroesophageal reflux disease (GERD) drug candidate in South Korea, but strong competition awaits from approved P-CAB drugs of CJ Healthcare and Takeda.
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Newly formed US venture Phathom, with industry veteran Tachi Yamada on board, has picked up selected rights to P-CAB molecule as Takeda continues to shed non-core assets and rights.
CJ Group plans to sell its healthcare affiliate, in what could potentially emerge as the first major M&A deal involving a South Korean pharma firm in recent years. Although the company has not ruled out the option of an initial public offering as an alternative, the sale plan possibly reflects the changing dynamics in the Korean pharma industry.
HanAll and Daewoong remain upbeat on dry eye candidate HL036 and are gearing up for a second Phase III US study despite the first missing its primary endpoint in just-released top-line results.