HCmed partners with Formosa Pharmaceuticals & Formosa Laboratories
HCmed Innovations Co. Ltd has reportedly partnered with Formosa Pharmaceuticals Inc. and Formosa Laboratories Inc to form global contract development and manufacturing organization (CDMO).
By consolidating the vibrating mesh nebulizers of HCmed, the drug manufacturing and development capabilities of Formosa Laboratories, and the APNT nanotechnology platform of Formosa Pharmaceuticals, the three firms are expected to establish a one-stop solution in the biopharma industry as a fully serving CDMO.
Since the advent of the COVID-19 pandemic, there has been a significant demand for respiratory treatment drugs, fostering many major global pharma companies to initiate and implement the proprietary mesh technology of HCmed in developing their inhaled products.
According to the Chief Executive Officer of HCmed Jason Cheng, global CDMO firms focusing on the development of drug-device combination products cannot only offer a drug delivery platform to their pharma partners but also with consolidated services that extend to mass production, drug development, and product packaging.
These services will shorten the time for developing combination products as well as reduce costs. With this intention, Formosa Laboratories, Formosa Pharmaceuticals, and HCmed aim to offer a completed consolidated CDMO service platform that is anticipated to further expand the companies' business, offering integrated solutions and creating long-term relationships.
The three parties share visions on their business of CDMO development. The partnership between the companies indicates the teaming up between three major players in the high-end medical device and biotechnology industries in the respiratory drug sector.
With the nanotechnology platform of Formosa Pharmaceuticals, Formosa Laboratories’ development and production experience of ADCs, API, and injections along with HCmed's technology of developing customized mesh nebulizers, the companies intend to offer comprehensive service across the development process, including clinical trials execution, mass production, early drug development, and product launch.
This partnership is anticipated to increase the CDMO orders, contribute to revenue increase, and reinforce customer relationships.
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Pankaj Singh
Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With experience in technical and niche w...