Sam Chun Dang Pharm has entered into a significant license-out agreement with an undisclosed U.S. partner for the commercialization of oral semaglutide, a generic version of the popular metabolic treatments Rybelsus and Wegovy.
According to regulatory filings released on the 30th, the contract includes milestone payments totaling up to $100 million (approximately KRW 150.9 billion). Furthermore, Sam Chun Dang Pharm is set to receive 90% of the partner’s sales revenue for a period of 10 years following the product’s initial market launch.
While specific details regarding the counterparty and certain contract terms remain confidential, the company noted that revenue recognition is conditional. Actual earnings may fluctuate or fail to materialize based on the success of regulatory approval processes and other external factors.
Company officials attributed the deal to Sam Chun Dang Pharm’s proprietary "SNAC-free" technological capabilities. Novo Nordisk, the original developer of Wegovy, holds formulation patents through 2039 for SNAC, a chemical absorption enhancer used in its oral medications. Sam Chun Dang Pharm explained that it utilized its "S-PASS" platform to develop a proprietary alternative that maximizes drug absorption without the use of SNAC, effectively bypassing existing patent barriers.
"We intend to concentrate our company-wide resources on developing follow-up pipelines based on the S-PASS platform," a representative for Sam Chun Dang Pharm stated. "This includes global clinical trials for oral insulin, with key results expected to be confirmed within this year."
This U.S. expansion follows a similar move in February, when Sam Chun Dang Pharm signed an agreement for exclusive sales rights across 11 European countries for its obesity and diabetes candidates. That deal included an upfront payment and milestones totaling €30 million (approximately KRW 50.8 billion), though the specific deal structure and European partner also remain undisclosed.
