Taiwanese biotechnology company Formosa Pharmaceuticals, Inc. (TWSE: 6838) announced on Monday that it has entered an exclusive licensing agreement with South Korea-based pharmaceutical manufacturer Samil Pharmaceuticals Co., Ltd. (KRX: 000520) to commercialise clobetasol propionate ophthalmic suspension 0.05% (APP13007) in South Korea.

The agreement grants Samil exclusive commercial rights and includes upfront payments, sales milestones and royalties for the patented treatment of post-surgical ocular inflammation and pain.

APP13007 is based on clobetasol propionate formulated using Formosa Pharmaceuticals' proprietary APNT nanoparticle platform and received approval from the US Food and Drug Administration in 2024. Formosa said the formulation, delivered as a twice-daily dose over 14 days, demonstrated rapid pain resolution and a low incidence of adverse events.

South Korea performs more than 600,000 major ocular procedures annually, including an estimated 800,000 cataract surgeries with expected year-on-year growth, representing strong market potential.