Taiwan-based biotechnology company Formosa Pharmaceuticals (TWSE: 6838) announced on Thursday it has signed an exclusive licensing agreement with Seoul-based Samil Pharmaceuticals Co., Ltd. (000520.KS) for the commercialisation of clobetasol propionate ophthalmic suspension APP13007 in Vietnam.

The deal covers upfront payment, regulatory milestones and royalties.

Samil manufactures pharmaceutical products across multiple therapeutic areas and has longstanding partnerships with companies including Samsung, Abbvie, Nicox and Thea.

APP13007 is a corticosteroid formulation developed using Formosa's APNT nanoparticle platform. It is approved by the US FDA and Health Canada and is administered twice daily for 14 days. Formosa cited a US survey of 100 ophthalmic surgeons that reported around 80% of patients were pain-free four days after surgery and found that adverse events occurred in fewer than 2% of cases.

Vietnam records about 300,000 cataract surgeries annually, with demand growing 5% each year. IQVIA data show the country's ophthalmic corticosteroid market generated USD4.26m in 2024.