BRIEF—Everest expands rights to Nefecon in Asia

Everest Medicines has entered into a license agreement with Swedish firm Calliditas Therapeutics to develop and commercialize Nefecon (budesonide) for the treatment of primary IgA nephropathy (IgAN) in South Korea.

Everest already has rights in China and Singapore, and will make an initial upfront payment of $3 million to expand its footprint.

In the coming months, the company will begin the process of submitting for regulatory approval in South Korea.

Everest chief commercial officer Kevin Yong Guo said: "South Korea is the third largest pharmaceutical market in the Asia Pacific region — after China and Japan — and represents a tremendous opportunity.”