On the 1st, Formosa Pharmaceuticals announced that its new drug APP13007 (clobetasol propionate ophthalmic suspension 0.05%), used for post-surgical anti-inflammatory and pain relief in eye surgeries, has been exclusively licensed to DAVI for marketing in Portugal. The drug received FDA approval in March and was launched in the U.S. in September.

DAVI has been a long-term partner of Pfizer and other renowned pharmaceutical companies in Europe and the U.S. for ophthalmic products, distributing Pfizer’s glaucoma medications Xalacom and Xalatan (both combination and single-agent latanoprost eye drops) for over a decade.

With a history spanning more than 100 years, DAVI is focused on the distribution and promotion of branded ophthalmic drugs and holds a significant position in the Portuguese market. The licensing agreement includes an upfront signing fee, development milestone payments, sales milestone payments, and other compensation over the contract period.

APP13007, developed using Formosa Pharmaceuticals’ proprietary APNT nanoparticle formulation platform, is a novel formulation featuring the potent corticosteroid clobetasol propionate as its active ingredient. This innovative formulation offers a simple and convenient dosing regimen (twice daily for 14 days) that achieves rapid and sustained relief from inflammation and pain. According to a recent survey of 100 U.S. ophthalmic surgeons, the rapid and complete resolution of eye pain (approximately 80% of patients experienced no pain within four days post-surgery) and the low incidence of adverse events (below 2%) were cited as key factors influencing their decision to prescribe APP13007.

According to Eurostat data, approximately 90,000 cataract surgeries are performed annually in Portugal, indicating significant market potential for APP13007 in the region.

Dr. Erick Co, CEO and General Manager of Formosa Pharmaceuticals, stated that the collaboration with DAVI marks Formosa Pharmaceuticals’ official entry into the highly competitive EU market and paves the way for expansion into other EU regions.

Rui Alves, Business Development Manager at DAVI, commented, “DAVI is delighted to partner with Formosa Pharmaceuticals and bring this cutting-edge medication and technology to ophthalmologists and patients. This will strengthen DAVI’s strong market position and reflect our commitment to improving public health and well-being.”

Resource (mandarin): 台新藥治眼疾新藥APP13007 授權DAVI行銷葡萄牙