Tainan City, Taiwan, July 17, 2018 — Handa Pharmaceuticals, Inc. (Taiwan Exchange: 6620) (“Handa”), a specialty pharmaceutical company focusing on the research, development and commercialization of innovative prescription drugs in the fields of neuroscience and oncology, today announced the launch of its proprietary ONCORE™ oncology drug delivery technology platform. The Company’s proprietary ONCORE™ technology platform will be used to overcome certain limitations of existing oncology medicines such as their food effect or pH dependence, making them safer and easier to take for the cancer patients who rely on them.
“Handa is pleased to announce the rollout of its innovative ONCORE™ drug delivery technology platform” applicable to the development of 505(b)(2) new drugs, said Bill Liu, Ph.D., Handa’s Chairman and CEO. “Utilizing its ONCORE™ technology platform, Handa will be able to decrease, minimize or even overcome certain limitations of existing oncology medicines, making them safer and easier to take for the cancer patients who rely on them.”
Since 2017, Handa has actively upgraded its operations by focusing on the development of patented 505(b)(2) new drugs. In 2018, Handa expects to invest US$6,000,000 into the research and development of 505(b)(2) new drugs. Handa expects this investment to produce sustainable revenues and profits in relevant markets in the near future.
In November 2016, Handa’s First-to-File generic version of AstraZeneca’s Seroquel XR ®, (Quetiapine XR Tablets), was launched in the US market by its collaboration partner, Par Pharmaceutical, Inc. (“Par”), generating significant revenues to Handa. In 2017, Handa generated NT$2.81 profit per share, making it one of the top performers on the Taiwan Emerging Market.
In April 2017, Par received Final Approval from the US FDA for Handa’s First-to-File generic version of Takeda’s Dexilant®, (Dexlansoprazole DR Capsules). Handa’s strategic partner, Fosun Pharmaceuticals Inc., will be responsible for the product registration with the CFDA and distribution in the Chinese market.
Through its US subsidiary, Handa Pharmaceuticals, LLC and its China subsidiary, Handa Hangzhou Pharmaceutical Technology Co,, Ltd., the Handa Group of companies has established a direct presence in the top two pharmaceutical markets in the world..
Cautionary Statement Regarding Forward-Looking Information
This release contains various forward-looking statements, including, without limitation, those statements with respect to markets, revenues and operations. All such forward-looking statements are only management’s estimates at the present time. No assurances can be made that any of these estimates will materialize. The estimates are based upon current information and certain external factors, some of which are beyond the control of the Company. The estimates are subject to various assumptions. Many of these assumptions may not be correct and are subject to risks such as unforeseen market changes and supply chain disruptions.
Investor Relations Contacts:
Handa Pharmaceuticals, Inc.
3F, No 74, Zhouzi St., Neihu Dist., Taipei City 11493, Taiwan (R.O.C.)
TEL：+886-2-8751-8717 ext 32
Stephen D. Cary
Senior Vice President
Handa Pharmaceuticals, LLC
1732 N. First Street, Suite 200
San Jose, California 95112 USA
TEL : 510-354-2888
E-MAIL : firstname.lastname@example.org