Daewoong Pharma Ends Southeast Asia Supply Deal With Abbott Worth KRW 69.23 Billion

Bitget2026/11/02 09:58

By:Bitget

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Daewoong’s pharmaceutical subsidiary terminated its Southeast Asian pitavastatin calcium tablet supply contract with Abbott Products Operations, effective Feb. 28, 2024.
The canceled value totaled KRW 69.23 billion, equivalent to 8.24% of the subsidiary’s 2015 consolidated revenue.
The contract began Nov. 2, 2016, with an original value of KRW 72.8 billion; expiration was scheduled for Nov. 2, 2026.
Sales and payments received totaled KRW 3.57 billion, representing 4.91% of the original contract value.
Both parties agreed to terminate amid weak local sales, business difficulties and the subsidiary’s inability to maintain Korean product authorization.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Daewoong Co. Ltd. published the original content used to generate this news brief via DART, the regulatory disclosure system operated by the South Korea Financial Supervisory Service (FSS) (Ref. ID: 20261102800893), on November 02, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Daewoong Pharma Ends Southeast Asia Supply Deal With Abbott Worth KRW 69.23 Billion

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