LG Chem Ltd., South Korea's leading chemical company, said Friday that it has obtained Japanese approval to sell its biosimilar etanercept for the treatment of rheumatoid arthritis.
The Japanese Ministry of Health, Labor and Welfare has approved LG Chem's new drug, which is biosimilar to Amgen Inc.'s Enbrel.
LG Chem said it will produce the biosimilar at its plant in South Korea before shipping it to two Japanese distributers, Mochida Pharmaceutical Co. and Ayumi Pharmaceutical Corp.
The biosimilar, whose brand name has not been announced, could hit the shelves in Japan around May, an official of LG Chem said.
A biosimiliar is a biologic medical product which is almost an identical copy of an original product manufactured by a different company. (Yonhap)