Global 1 trillion won project

Speed of overseas expansion of domestically produced P-CAB new drugs

HK inno.N, K-CAB, released in 7 countries, technology and finished product export contracts with 35 countries

Daewoong Pharmaceutical's 'Fexuclue' obtained approval in 4 countries

Domestically developed new drugs in the P-CAB (Potassium-competitive gastric acid secretion inhibitor) series are accelerating their overseas expansion.

 

HK inno.N K-CAB and Daewoong Pharmaceutical Fexuclue both set a global sales goal of 1 trillion won within five years.

 

To this end, K-CAB has obtained product approval in 7 countries.

 

In addition, the company announced expansion into a total of 35 countries, including technology and finished product export contracts.

 

Fexuclue also obtained product approvals in four countries and signed technology and finished product export contracts with a total of 15 countries.

 

According to the pharmaceutical industry on the 19th, Daewoong Pharmaceutical recently received product approval for Fexuclue from Mexican health authorities.

 

As a result, the number of countries for which Fexuclue has obtained product approval has expanded to four countries.

 

Daewoong Pharmaceutical received product approval in the Philippines in November of last year, followed by Ecuador and Chile in February and March of this year.

 

The analysis is that the company is accelerating its overseas expansion in the second year of its domestic launch.

 

Daewoong Pharmaceutical launched Fexuclue in Korea in July last year.

 

Since then, the company has quickly begun targeting overseas markets by submitting product approval applications to a total of 12 countries.

 

Among these, formal approval has been obtained in four countries, and approval is being reviewed in eight countries, including China, Vietnam, Indonesia, Thailand, Saudi Arabia, Brazil, Colombia, and Peru.

 

If adding the countries with which technology and finished product export contracts have been signed, Fexuclue is expected to enter a total of 15 countries.

 

The total contract size is estimated to be more than 700 billion won.

 

Daewoong Pharmaceutical signed a technology export and finished product export contract worth $44.42 million with Mexico's 'Moksha8' in January 2020.

 

In August, a contract worth $72.58 million was signed with Brazil's EMS.

 

In March 2021, a contract worth $339.55 million was signed with China's 'Shanghai Haini Pharmaceutical'.

 

In June of the same year, a development and commercialization license agreement worth $430 million was signed with Neurogastrx in the United States and Canada.

 

However, this contract was terminated in June of this year.

 

Daewoong Pharmaceutical announced that it has begun negotiations with multiple multinational pharmaceutical companies to enter big markets not only in North America but also in Europe and Japan.

 

In addition, a contract was signed with 'Pharma Consulting Group (BIOPAS)' to transfer local licensing and sales rights in four Central and South American countries, and with 'Aghrass Healthcare Limited' to supply Fexuclue to six Middle Eastern countries, including Saudi Arabia, for the next 10 years.

 

contracts were signed respectively.

 

Daewoong Pharmaceutical plans to expand the number of countries applying for Fexuclue approval to 30 countries by 2025.

 

The goal was to enter a total of 100 countries by 2027, including technology and finished product export contracts.

 

Daewoong Pharmaceutical's plan is to achieve global sales of 1 trillion won through this.

 

K-CAB launches products in 7 countries, exports contracts with 35 countries K-CAB, which entered the global market ahead of Fexuclue, also set its global sales target at 1 trillion won.

 

Prior to this, the goal was to enter a total of 100 countries by 2028.

 

The product has already been released in seven countries with product approval.

 

Since April 2022, HK Innoen has released products one after another in China, the Philippines, Indonesia, Singapore, Mongolia, Mexico, and Peru.

 

What is attracting attention is the Chinese market.

 

China is known as the world's largest anti-ulcer drug market.

 

According to IQVIA, a pharmaceutical market research firm, the size of China's anti-ulcer drug market last year amounted to approximately 3.3 trillion won.

 

HK Innoen released a non-sales service under the name ‘泰欣赞’ in April last year.

 

In March of this year, this product was applied for insurance benefits.

 

Product approval has been applied for in Vietnam, Malaysia, and Chile.

 

HK inno.N plans to apply for product approval in three to four additional countries in Central and South America within this year.

 

HK inno.N has signed technology and finished product export contracts with a total of 35 countries, including this one.

 

In October 2015, a technology transfer contract worth a total of $95 million was signed with Chinese pharmaceutical company Luoxin.

 

Then, in February 2019, a contract was signed with Carnot, a Latin American pharmaceutical company, to export finished products to 17 Central and South American countries, including Mexico and Argentina.

 

The total contract size is $84 million.

 

Since September of the same year, contracts have been signed to export finished products to six Southeast Asian countries.

 

In December 2021, a technology transfer agreement in North America was signed with the US pharmaceutical company Braintree.

 

The contract size is $540 million, and phase 3 clinical trials are being conducted locally starting in September 2022.

 

Last year, technology and finished product export contracts continued.

 

In April last year, a contract was signed with Indian pharmaceutical company Dr.Reddy's to supply finished products to India, South Africa, Russia, Kazakhstan, Uzbekistan, Ukraine, and Belarus.

 

In December of the same year, a technology transfer agreement was signed with Eurofarma to enter the Brazilian market.

 

The total contract size is undisclosed.