Alvogen announced today that it has signed a partnership agreement with VIVUS Inc. for the anti-obesity drug Qsymia. Under the terms of the agreement, Alvogen will be responsible for regulatory, sales and marketing activities for Qsymia® (phentermine and topiramate extended-release) in the Republic of Korea. Qsymia is used for the treatment of chronic weight management or weight-related conditions.
For Alvogen, the agreement will help assert further dominance in the Korean anti-obesity market, with Qsymia to join a broad portfolio – such as Furimin (Phentermine), Furing (Phendimetrazine) and Oliet (Orlistat) – which are targeted at people with weight-related conditions. Alvogen will seek regulatory approval in Korea for Qsymia ahead of a commercial launch. Providing Qsymia gets the green light, VIVUS will receive royalties on Alvogen’s net sales of the drug, in addition to upfront and milestone payments.
Petar Vazharov, Executive Vice President for Alvogen APAC, said.
California-based VIVUS said the strategic partnership will help “maximize the Qsymia opportunity in Korea,” due to Alvogen’s “expertise and relationships.”
Qsymia is currently used in the United States as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management for adults who are clinically obese, as well as those who are overweight and in the presence of at least one weight-related medical condition, such as high blood pressure, type 2 diabetes, or high cholesterol. It is to be used alongside a reduced-calorie diet and increased physical activity for chronic weight management.
The overall anti-obesity market in Korea reached $159 million in 2016 after delivering a cumulative average growth of 14.6% from 2012-2016.