FutureChem Signs $1.25 Million Contract for Clinical Trial Radiopharmaceuticals Manufacturing and Supply
[Asia Economy Reporter Lee Gwan-joo] FutureChem, a company specializing in radiopharmaceuticals, announced on the 18th that it has signed a contract with AVID, a subsidiary of Eli Lilly, for the contract manufacturing and supply of radiopharmaceuticals for clinical trials.
The contract is valued at $1,259,000 (approximately 1.54 billion KRW) and involves the contract manufacturing and supply of radiopharmaceuticals for Alzheimer's diagnosis required for domestic clinical trials.
AVID is a U.S.-based radiopharmaceutical company and a subsidiary of the global pharmaceutical company Eli Lilly. Eli Lilly acquired AVID in 2010 for $800 million to develop dementia treatments.
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A FutureChem official stated, "This contract is significant as it is the first contract manufacturing and supply agreement for radiopharmaceuticals for clinical trials with a global pharmaceutical company," adding, "We will expand new business supplying radiopharmaceuticals for clinical trials to global pharmaceutical companies conducting clinical trials in Korea."
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