- 02.09.2016
On September 2nd, 2016 R-Pharm group and South Korean company Il-Yang Pharmaceutical have signed the agreement at the Eastern Economic Forum in Vladivostok. As a result of this project R-Pharm will start manufacturing of NOLTEC (Ilaprazole).
The agreement was signed in the presence of the Minister of Healthcare of South Korea Jae-Hee Jeon and the Deputy Minister of Economic Development of the Russian Federation Stanislav Voskresensky. The agreement was signed by the Chairman of Board of R-Pharm group Alexey Repik and by the President and Chief Executive Officer of Il-Yang Pharmaceutical Dong-Youn Kim.
R-Pharm has obtained from Il-Yang Pharmaceutical an exclusive license for manufacturing and commercialization of NOLTEC (Ilaprazole). This drug was developed by Il-Yang Pharmaceutical for the treatment of gastroduodenal ulcer, erosive esophagitis and gastroesophageal reflux disease. NOLTEC (Ilaprazole) produces a pronounced and long-term effect and helps to heal ulcers. It also reverses symptoms of the disease. It is important to note that NOLTEC (Ilaprazole) has low drug interaction probability, which allows its use in combination with other drugs in patients with multiple comorbidities.
As agreed, the Russian company will introduce the new drug on the territory of Russia, Belarus and Armenia. The active pharmaceutical ingredient Ilaprazole required for manufacturing of the finished product will be initially supplied by Il-Yang Pharmaceutical. The finished drug will be manufactured at the R-Pharm facility in Yaroslavl.
“We keep a close eye on the developments of the South Korean company and are pleased to extend partnership with it, – says Alexey Repik, the Chairman of Board of R-Pharm group. – As the result we have reached the agreement and obtained the rights for development and promotion of NOLTEC (Ilaprazole) in Russia and several neighboring countries. I am confident that the drug will be endorsed by doctors and patients”. The
President and CEO of Il-Yang Pharmaceutical Don Youn Kim stressed the importance of the signed agreement. “Today we have concluded an agreement on technology transfer of the third-generation anti-ulcer drug. R-Pharm has huge potential for development of the whole pharm industry. This is the reason why want to promote and strengthen our cooperation”.
To date NOLTEC (Ilaprazole) has completed all necessary clinical trials and is ready to be introduced into clinical practice.