Dainippon Licenses Gasmotin® to Daewoong of South Korea
In April 1999, Dainippon Pharmaceutical Co., Ltd. entered into a license-out agreement with Daewoong Pharmaceutical Co., Ltd. in Seoul for its original gastroprokinetic drug Gasmotin®imosapride citrate), which was launched in Japan in October 1998.
Gasmotin® is the world's first gastroprokinetic drug which selectively acts to serotonin 5-HT4 receptor with less possibility of causing adverse reactions such as extrapyramidal symptom and Q-T interval extension.
In the wake of this agreement Daewoong, which is a GI based major pharmaceutical company in South Korea, will be able to line up products in the alimentary system including its current top selling digestive, antacid, antispasmodic, antidiarrheal etc..
Daewoong plans to launch Gasmotin® in 2000, and shows a confidence for the success of Gasmotin® which is forecasted to be a market leader in the fifth year after launch.
Gasmotin® was also licensed out to Astra AB for development and marketing for the US and Europe, where early Phase II studies are underway.