Taiwan-based Formosa Pharmaceuticals Inc (TPE:6838) announced on Thursday that it has signed an exclusive licensing agreement with DÁVI Farmacêutica in Portugal.

The agreement covers exclusive rights to the commercialisation of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), a marketed innovative medicine for the treatment of inflammation and pain following ocular surgery.

Approved by the US Food and Drug Administration (FDA) in March 2024, the product was launched in the United States in September 2024.

The DÁVI licensing agreement includes an upfront payment, commercialisation and sales milestones, and additional considerations throughout the term of the contract.

Erick Co, Formosa Pharmaceuticals' president and CEO, said: "This partnership with DÁVI Farmacêutica marks our first entry into a competitive EU market, opening the door for growth into other EU territories. DÁVI's experience and commitment to novel ophthalmic therapies is steadily apparent and Formosa Pharma appreciates their recognition of APP13007 as a worthy offering to patients recovering from ocular surgery."