|Vice Chairman Park Jong-jeon of Seoul Pharmaceuticals (left) and Piero Brambati CFO of PT. SOHO Industri Pharmasi shake hands after signing an export contract Friday.|
Seoul Pharmaceuticals said Friday that it has signed an additional contract with PT. SOHO Industri Pharmasi, a leading pharmaceutical company in Indonesia, to supply $7.76 million (8.7 billion won) worth of drugs over the next 10 years.
The drugs to be exported are Aripiprazole, a treatment for schizophrenia and bipolar disorder, and Donepezil, a treatment for Alzheimer's disease. Both drugs are orally disintegrating films (ODF). The milestone payment is $50,000, and the minimum purchase requirement is 70 percent of the yearly solutions focus (SF).
It was the second export contract of Seoul Pharma with the Indonesian importer, following the one that shipped Sildenafil and Tadalafil worth $8 million (9 billion won), in June.
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