SK Chemicals made an announcement on Nov. 27 that its dementia treatment patch "SID710" has received a final marketing approval from the U.S. Food and Drug Administration (FDA).
SID 710 is the first dementia treatment patch developed by SK Chemicals in South Korea in 2010. It is a patch that attaches to the skin once a day for dementia patients who have difficulty remembering the time and frequency of the drug or who have difficulty swallowing the pill.
SK Chemicals' SID710 has the same effect as its oral products in the form of pills, but has less side effects such as nausea, vomiting and inflammation, and less pressure on the stomach and liver.
This FDA approval of SK Chemicals' SID710 is a result of its advance into Europe (2013), Australia (2016), and Canada (2018). It has entered 19 countries so far, signed copyright and export contracts with 24 major pharmaceutical companies, and is well recognized for the excellence of Korean medicines.
"It is meaningful that SK Chemicals has been recognized for its high technical skills through FDA approval," said Jeon Kwang-hyun, CEO of SK Chemicals. "We are planning to expand our business into major countries in South America and Southeast Asia after the U.S., Europe based on our development capabilities and licensing response ability that meet global standards."
Currently, SK Chemicals' SID710 is also carrying out procedures for local permits from Brazil and Saudi Arabia, and is expanding its field in advanced markets abroad based on differentiated manufacturing technology.