07 March 2022 | News
HCmed, Formosa Laboratories and Formosa Pharmaceuticals sign MoU to form a global CDMO for inhalation treatment drugs
Image credit: shutterstock
Taiwan-based HCmed Innovations has formed a strategic alliance with Formosa Laboratories and Formosa Pharmaceuticals, Inc. to expand its business in the inhalation treatment field, providing contract development and manufacturing services.
By integrating HCmed's vibrating mesh nebulizers, Formosa Laboratories' drug development and manufacturing capabilities, and Formosa Pharmaceuticals' APNT nanotechnology platform, the three parties are expected to become a one-stop shop in the biopharmaceutical industry as a full-service contract development and manufacturing organization (CDMO).
According to statistics, the global inhalation drug market reached $25 billion in 2020. Moreover, as the COVID-19 pandemic has driven demand for respiratory treatment drugs during the past two years, the demand for developing respiratory drugs has also grown stronger, prompting several well-known global pharmaceutical companies to take the initiative to incorporate HCmed's proprietary mesh technology into the development of their inhaled products.
This collaboration is expected to increase the number of CDMO orders, deepen customer relationships, and contribute to revenue increase.