As I mentioned yesterday on a note to Steve, it was worth to keep DUSA on a watch list.<g>
Message 23933593
The stock is up 27% today after some news.
bigcharts.marketwatch.com
DUSA's Levulan(R) Kerastick(R) Receives Marketing Approval in Korea
Wednesday October 3, 6:30 am ET
Levulan(R) Approval in Korea Expands DUSA's Global Market Reach
WILMINGTON, MASSACHUSETTS--(MARKET WIRE)--Oct 3, 2007 -- DUSA Pharmaceuticals, Inc.® (NASDAQ GM: DUSA), is pleased to announce that the Korea Food and Drug Administration (KFDA) has approved Levulan® Kerastick® for Photodynamic Therapy (PDT) for the treatment of actinic keratoses (AKs) through its marketing partner Daewoong Pharmaceutical Co., Ltd and its affiliate, DNC Daewoong Derma & Plastic Surgery Network Company (DNCompany). Having received approval, market launch is expected in the first quarter of 2008.
"The approval of Levulan in Korea is another important milestone for DUSA, which reinforces our strategy of gaining worldwide distribution of Levulan PDT in conjunction with strategic partners," said Bob Doman, President and CEO of DUSA.
"We were particularly impressed with how quickly Daewoong filed and gained regulatory approval in Korea. Daewoong, with an existing customer base of over 2,500 dermatologists and plastic surgeons, is well positioned to gain rapid penetration in the Asian markets."
In early January 2007, DUSA entered into an exclusive marketing, distribution and supply agreement with Daewoong Pharmaceutical Co., Ltd and DNCompany.
Under the terms of this collaborative agreement, DUSA will manufacture and supply Levulan, while Daewoong Pharmaceutical Co., Ltd and DNCompany will market and distribute Levulan in 11 Asian countries, including Korea.
"The approval of Levulan in Korea is the beginning of a new opportunity for Daewoong and DNCompany to expand our dermatology products," said Shin Hee Soo, CEO of DNCompany.
"Korea is considered a pioneer market in skin care in Asia and the approval of Levulan in Korea will be seen as the first step of success in the Asian market. We have expectations that the product will be commercially available in 11 Asian countries, including China, where we have already begun the regulatory approval process."
Currently, Levulan PDT is approved for sale in the U.S., Canada, several Latin American markets and now Korea.
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Bernard |
