"We are delighted at the opportunity to work with ADVENTRX and foresee substantial market potential for ANX-514 in South Korea, an opportunity that we believe we are fully equipped to realize. We believe ANX-514 will secure a significant market share of the current $30 million docetaxel market in Korea, a market which is expected to grow to up to $50 million over the next several years," stated Mr. Byung Hwa Kim, Chief Executive Officer of Shin Poong.
About ANX-514 (docetaxel emulsion)
ANX-514 is a novel nano-emulsion formulation of the chemotherapy drug docetaxel, a formulation of which is marketed under the brand name Taxotere. ANX-514 is formulated without polysorbate 80 or other detergents and is intended to reduce the severity and/or incidence of hypersensitivity reactions. Docetaxel is an anti-cancer agent that acts by disrupting the cellular microtubular network that is essential for cell division. Immunosuppressant premedication is recommended for docetaxel therapy to reduce the incidence and severity of hypersensitivity reactions. Docetaxel is approved to treat breast, non-small cell lung, prostate, gastric and head and neck cancers.
About Shin Poong Pharmaceutical Co., Ltd.
Shin Poong Pharmaceutical Company is a publicly traded company established in 1962 in Seoul, South Korea. It is one of the ten largest pharmaceutical companies in Korea with manufacturing operations in five countries, more than 1,500 employees world-wide, and sales in excess of US $200 million. It is a top ranked marketer of pharmaceuticals in Korea and has a leading position in oncology through its Oncology Business Unit. Marketed products in oncology include Padexol Injection (paclitaxel), Didox Capsule (doxifluridine), OXP Injection (oxaliplatin) and CrabCan Injection (irrinotecan). The company is collaborating with t
|SOURCE ADVENTRX Pharmaceuticals, Inc.|
Copyright©2009 PR Newswire.
All rights reserved