DistantNews
Support us
Alteogen to receive $25 million first royalty from Keytruda Qlex sales
🇰🇷 South Korea /Economy & Trade

Alteogen to receive $25 million first royalty from Keytruda Qlex sales

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Outcome reported
  • South Korean biotech company Alteogen will receive its first royalty payment from sales of Keytruda Qlex, totaling $25 million.
  • Keytruda Qlex applies Alteogen’s technology to reduce administration time from about 30 minutes by intravenous infusion to one or two minutes by subcutaneous injection.
  • The product generated $590 million in U.S. sales during the first half of the year after launching there last year.

Alteogen is set to receive its first technology royalty from sales of Keytruda Qlex, the under-the-skin version of MSD’s widely used cancer immunotherapy Keytruda.

The payment amounts to $25 million, or about 34.4 billion won. Alteogen said it qualified for the payment because Keytruda Qlex sales exceeded the level specified in its agreement with MSD.

Keytruda has traditionally been administered through an intravenous infusion, a process that takes about 30 minutes. The subcutaneous version reduces the administration time to one or two minutes. Alteogen transferred its technology for converting intravenous medicines into subcutaneous injections to MSD in 2020.

Keytruda Qlex launched in the United States last year and recorded $590 million in sales during the first half of this year. Alteogen said it expects royalty receipts to grow as Keytruda sales increase.

About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog