Bio-Technology General Corp. said that JCR PharmaceuticalsCo. Ltd., its Japanese licensee for recombinant human growthhormone, has filed for Japanese marketing approval of hGH totreat short stature.
JCR, based in Ashiya, has been assured by the Ministry ofHealth and Welfare that the product will be approved in lessthan a year, said Sim Fass, president of BTGC.
JCR currently markets hGH extracted from pituitary glands andholds a 10 percent share of the $175 million Japanese hGHmarket. Upon approval, JCR will market BTGC's hGH in place ofthe pituitary extract.
BTGC will receive a 30 percent sales royalty, which would givethe New York-based company $6 million in revenues on thefirst full year of sales, Fass said.
BTGC stock (NASDAQ:BTGC) closed at $5.81, up 19 cents, onFriday.
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