Taiwan Business Quick Take

Staff writer, with agencies

Fri, Aug 30, 2013 - Page 14

TIRES

Firm sponsors United

Federal Corp (泰豐輪胎) has signed a three-year sponsorship deal with England’s Manchester United Football Club under which the Taiwan-based car tire maker will be the world-renowned soccer team’s sole tire sponsor in the Russian and Taiwanese markets. Federal Corp is the first Taiwanese company to sign a sponsorship contract with the Premier League club. The firm provides an extensive range of ultra-high performance, high performance, passenger car and SUV tires. It is also the first Taiwanese maker to develop semi-slick tires. Federal said it will collaborate with the soccer club in launching various promotional activities in Russia and Taiwan in the coming years to further enhance its brand recognition.

PHARMACEUTICALS

Cancer drug trial advances

Local drug maker PharmaEngine Inc (智擎生技) and its US partner Merrimack Pharmaceuticals Inc have reached a 405-patient enrolment goal in the global phase three study of its new drug PEP02 (MM-398) for pancreatic cancer, the firm said on Wednesday. PharmaEngine said it will file for drug permits in the US, Europe and Taiwan at the end of this year. The company is expected to receive US$75 million from Merrimack next year before the drug can be sold in these markets, and another US$130 million in milestone payments over the next three years, if sales of the drug can reach certain targets, analysts said.