Alteogen to Receive First Sales Milestone Payment of 34.4 Billion Won for Keytruda SC

"Full-Scale Revenue Generation
Based on Product Sales"

Alteogen announced on the 31st that it is set to receive its first sales milestone payment of $25 million (approximately KRW 3.44 billion) from its Hybrozyme platform partner, global pharmaceutical company Merck & Co. (MSD), based on sales of the subcutaneous (SC) formulation of Keytruda.

This marks the first sales milestone payment received as part of the $1 billion total sales milestones included in the license agreement between Alteogen and MSD. The company noted that, unlike previous revenues derived from clinical development and regulatory approvals, this represents a significant step in generating profits based on actual product sales in the global market.

Aerial view of Alteogen headquarters and research institute in Daejeon. Alteogen

In the first half of this year, sales of Keytruda Qurex reached $590 million (approximately KRW 812.1 billion), showing rapid growth since its launch in October of last year. The implementation of a permanent J-code in the United States in April simplified the insurance reimbursement process, which also appears to have positively contributed to market expansion.

Keytruda is a representative immune-oncology drug targeting PD-1 and is used both as a monotherapy and in combination therapy for more than 40 different cancer indications. MSD is actively promoting the transition from intravenous (IV) to subcutaneous (SC) administration, focusing on monotherapy, oral anticancer drug combinations, and postoperative adjuvant therapies.

A representative from Alteogen stated, "Achieving the first sales milestone through our partner’s successful market expansion is meaningful as it signifies Alteogen’s growth into a biotech company that generates profits based on product sales, beyond technology exports and development stage achievements," adding, "We will continue to expand partnerships with global pharmaceutical companies so that more patients can benefit from the fast and convenient treatment options provided by subcutaneous formulations."

This content was produced with the assistance of AI translation services.