Recipharm secures €25 million contract for Erdosteine API with Daewoong Pharmaceutical
Recipharm is pleased to announce that it has signed an agreement with Daewoong, the leading Korean based pharmaceutical company with a strong presence in respiratory therapeutics, for a ten year extension of its existing contract, through to 2025, for the manufacture and supply of Erdosteine API. The finished Erdosteine product is manufactured by Daewoong Pharmaceutical at its Korean facilities.Under the terms of the new agreement, Daewoong will annually purchase minimum API quantities of Erdosteine worth a total of about €25 million from Edmond Pharma, a Recipharm Group company. In return,