Generex signs oral insulin distribution agreement with Dong-Sung

Aug 26, 2008 (Datamonitor via COMTEX) -- GNBT | Quote | Chart | News | PowerRating -- Generex Biotechnology has entered into a product licensing and distribution agreement with Dong-Sung Pharm for the importation, marketing, distribution and sale of Generex Oral-lyn, the company's proprietary oral insulin spray product, in South Korea.

The terms of the deal call for payment of a non-refundable, up-front licensing fee and further payment of an additional non-refundable license fee upon procurement of the requisite approval from the Korea Food and Drug Administration for the sale of the product in South Korea.

Generex will prepare, file and prosecute the approval application with the assistance of Dong-Sung and SciGen, the company's master licensee in the region.

Generex Oral-lyn is presently approved for commercial sale in India and Ecuador and a global Phase III clinical trial is underway.

Lee Yang-Goo, president of Dong-Sung, said: "Dong-Sung Pharmaceuticals prides itself on providing innovative pharmaceutical solutions to our customers. We are proud to add Generex Oral-lyn to our roster."

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