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ST Pharm to export W152b API to Gilead Ireland

By 황유미
  • Published : Sept 19, 2016 - 15:05
  • Updated : Sept 19, 2016 - 15:05
[THE INVESTOR] ST Pharm announced on Sept. 19 that it has signed a 152 billion won (US$135.50 million) contract with Gilead Sciences Ireland to supply anti-viral active pharmaceutical ingredient for hepatitis C treatment.

ST Pharm has been providing the ingredient to Gilead Sciences -- a US-based pharmaceutical company -- that manufactures Sovaldi and Harvoni, treatments for hepatitis C.

The contract amounts to 110 percent of the South Korean company’s revenue last year and the contract lasts from Jan. 1 to Nov. 30, 2017.

ST Pharm is a contract manufacturing organization unit of pharmaceutical heavyweight Dong-A Socio Group, and its revenue from exporting active ingredients for Gilead’s hepatitis C drugs accounted for about 60 percent of its total revenue of 138 billion won in 2015. It went public in June.

By Hwang You-mee (glamazon@heraldcorp.com)