Boryung said on Tuesday that it signed an exclusive domestic sales contract with German pharmaceutical company, Cheplapharm, for Taxol (ingredient: paclitaxel).

Taxol is an original paclitaxel drug, developed by Bristol Myers Squibb (BMS). 

Its alkaloid anticancer formulation treats various carcinoma indications such as ovarian, breast, lung, esophageal cancer, and other types of solid tumor cancers. The drug is a mitotic inhibitor and works by preventing cell division thereby inducing the death of cancer cells.

Cheplapharm has the sale rights to Taxol but Boryung will acquire exclusive domestic sales rights and also the domestic license rights of Taxol from BMS Pharmaceutical Korea under the latest agreement. 

Boryung has already expanded Taxol's market dominance by conducting co-promotion with BMS from 2008 to 2015. Since 2016, Boryung has started a co-promotion for paclitaxel generics.

Boryung aims to make Taxol the No. 1 drug in the local paclitaxel market, said a company official.

Furthermore, Boryung plans to conduct marketing for each major indication, while rapidly expanding the prescription of Taxol through synergy with various existing anticancer drug portfolios. 

According to IQVIA, Taxol's prescription sales over the past year were 8.1 billion won ($6.5 million), ranking second in the paclitaxel market.

"Taxol is an original paclitaxel product that has proven effective and safe through long-term clinical trials at home and abroad and we will focus on expanding the prescription of Taxol in Korea," said Kim Young-suk, head of Boryung Oncology.