Dragon Pharmaceuticals Inc. (OTCBB – DRUG.OB) is pleased to announce that it has entered into a marketing and licensing agreement with Standard Chemical & Pharmaceutical Co., Ltd. (“Standard”) of Taiwan for the distribution of Dragon’s recombinant Erythropoietin (EPO). EPO has been the most effective drug for the treatment of severe anemia since its introduction in 1989 and is ranked by IMS Health as the world’s fastest growing drug by annual sales, with estimated worldwide sales of US$4.8 billion in 2000.
The agreement provides Standard, a leading Taiwanese pharmaceutical manufacturer, with an exclusive license to sell Dragon’s EPO in Taiwan. Taiwan’s current market for the use of EPO in the treatment of patients with chronic renal failure is estimated at US$30 million.
According to the agreement, Dragon will manufacture and ship bulk EPO to Standard, who will vial, label, and distribute the product in Taiwan. Standard will also be responsible for obtaining product registration and marketing approval for EPO in Taiwan. Dragon and Standard management anticipate that the regulatory submission to the Taiwanese Department of Health will be filed during the second quarter of 2002.
Standard Chemical & Pharmaceutical Co., Ltd. is a fully integrated pharmaceutical developer, manufacturer and distributor based in Taiwan. Established in 1967, the company has over 450 employees and earned revenues of US$31.5 million in 2000. Standard was the first Taiwanese pharmaceutical plant to obtain ISO 9001 quality certification and its manufacturing facilities were endorsed by the U.S. Food & Drug Administration in 2000. Standard has established numerous contract manufacturing or co-marketing relationships with major international pharmaceutical companies, including Switzerland’s Novartis, France’s Rhone-Poulenc Rorer, Germany’s Bayer and Japan’s Kyoto Daiichi.
Dragon has, to date, established international licensing and distribution agreements with major regional pharmaceutical partners which cover over 90 countries throughout the ASEAN member nations, the Middle East, Latin America, Central and Eastern Europe, Africa, Scandinavia, and Taiwan.