Singapore, March 5 -- Germany-based Grunenthal, a global leader in pain management and related diseases, and South Korea's BCWorld Pharm (BCWP), a specialty company actively expanding and diversifying its pain management portfolio through global open innovation partnerships, have entered into a definitive agreement whereby BCWP will have the exclusive South Korean rights to Qutenza(R), a topical, non-systemic, non-opioid patch treatment. In Europe, the product is indicated for the management of peripheral neuropathic pain.

Under the agreement,BCWP will be responsible for obtaining marketing authorisation for Qutenza(R)in South Korea. Upon approval, the company will market and distribute the product. Grunenthal will receive an upfront pay...