Formosa expands reach with Southeast Asia licensing deal
Taiwanese biotech Formosa Pharmaceuticals (TWSE: 6838) has signed an exclusive agreement with Singapore-based Rxilient Medical to commercialize APP13007 (clobetasol propionate) in Indonesia, the Philippines, Singapore and Thailand. The deal features upfront and milestone payments as Rxilient strengthens its regional ophthalmology portfolio.
APP13007, cleared by the American medicines regulator in 2024, is positioned as the first ophthalmic formulation of clobetasol propionate. Formosa says its twice-daily dosing offers rapid relief after ocular surgery, with most US surgeons surveyed highlighting fast pain resolution and low adverse event rates as key benefits.
The product enters a sizeable market. Roughly seven million ocular surgeries take place each year in the USA, helping create a $1.3 billion opportunity for postoperative steroids. ASEAN markets see more than one million surgeries annually, with growth expected as access to care expands.
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