Kips Biopharma (Kips Pharma) announced on January 19 that its subsidiary, BigThink Therapeutics (hereafter BigThink), has signed an exclusive domestic distribution and sales agreement with Handok Teva for five pharmaceutical products, including anticancer drugs and immunosuppressants. The company expects that expanding its anticancer drug lineup alone will increase its annual revenue by more than 10 billion KRW (approximately 7.5 million USD).
This agreement is significant as it builds on the successful collaboration between the two companies last year with the neutropenia treatment "Longquix Prefilled Injection" and represents an additional contract. Through its strategic partnership with Handok Teva, BigThink is expected to significantly expand its influence in the anticancer drug market.
The newly introduced products include four anti-hormonal agents: Tamofrex Tablets (active ingredient: tamoxifen) and Teva Letrozole Tablets (letrozole), Teva Anastrozole Tablets (anastrozole), all used for breast cancer treatment, and Teva Bicalutamide Tablets (bicalutamide) for prostate cancer treatment, as well as the immunosuppressant Teva Azathioprine Tablets (azathioprine).
BigThink plans to begin supplying and actively marketing these products domestically starting at the end of this month.
The four newly introduced anti-hormonal agents are considered standard therapies widely used in the treatment of breast and prostate cancers in Korea. With the number of breast cancer patients in Korea increasing to about 30,000 annually and prostate cancer patients to about 20,000, and with hormone receptor-positive (HR+) patients accounting for over 70% of breast cancer cases, stable prescription demand is expected.
In particular, the letrozole and anastrozole classes are standard treatment options for postmenopausal breast cancer patients, with a high proportion of long-term use, making them products with potential for sustained market growth. Bicalutamide is a non-steroidal agent used in androgen deprivation therapy (ADT) for prostate cancer and is widely utilized as a standard treatment option for prostate cancer patients in Korea, providing a stable demand base.
The immunosuppressant azathioprine is an essential therapy for organ transplant recipients and patients with autoimmune diseases, and with the increasing number of related patients in Korea, it is forming a market structure centered on chronic prescriptions.
Given the market size of the newly introduced product group, the expected annual sales of the five products are estimated to exceed 10 billion KRW (approximately 7.5 million USD) on average. Accordingly, the company expects its performance this year to grow by more than 200% compared to the previous year.
With the introduction of these new products, BigThink has completed a portfolio that covers everything from anticancer adjuvant therapy to hormone-based cancer treatments, solidifying its position as a leading "specialized anticancer pharmaceutical company." BigThink currently offers the new breast cancer drug "Nerings Tablets," the oral mucositis treatment "Mucosamin," and the neutropenia treatment "Longquix Prefilled Injection."
A BigThink representative stated, "This agreement is not just about adding new products, but about systematically securing key therapeutic agents that are widely prescribed in the domestic anticancer treatment field. We expect that expanding our anticancer drug lineup and improving sales efficiency will not only drive revenue growth but also strengthen our profitability and overall business fundamentals."
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