Daewon’s Pelubi enters Indonesia with a KRW 4 bil deal

Signs export agreement with Indonesia PT. Interbat Pharmaceutical Industry to export Pelubi CR Tab.

On the 25th, Daewon Pharmaceutical announced that its nonsteroidal anti-inflammatory drug, ‘Pelubi CR Tab’ has entered the Indonesian market.

 

Pic of Pelubi series

Daewon Pharmaceutical signed an exclusive export agreement with its Indonesian partner, PT.

 

Interbat Pharmaceutical Industry, to export its finished Pelubi CR Tablet products to Indonesia.

 

The 5-year deal is worth a total of USD 3 million (KRW 4 billion).

 

Pelubi CR tablet is an improved version of Daewon’s new drug ‘Pelubi’ that offers improved convenience in administration.

 

After being released in 2015 as an anti-inflammatory analgesic in 2012, its prescription area has been expanded, adding various indications such as post-traumatic pain and primary menstrual pain into the areas of chronic pain and acute pain.

 

Daewon Pharmaceutical said, “Our Pelubi series has grown into a mega-brand product that posts annual sales of approximately KRW 40 billion, and has achieved the highest prescription volume among NSAIDs in Korea.” Indonesia is a country with a high demand for pharmaceuticals in Asia, accounting for approximately 27% of the entire ASEAN market.

 

Its pharmaceutical market size amounts to approximately USD 3 billion (approximately KRW 4.022 trillion) in 2021.

 

Pelubi was released in Russia early last year after 2 years of local clinical trials and on-site inspections.

 

Daewon Pharmaceutical is planning to sign new export contracts with the Philippines and Mexico in H2, using its entry into the Russian and Indonesian markets as momentum.

 

The company is waiting to complete product registration in Vietnam.

 

Daewon Pharmaceutical plans to accelerate its expansion into overseas markets, focusing on the Eurasian Economic Union (EAEU) which includes Russia and Kazakhstan, as well as Central and South America, and Southeast Asia.

 

In-Hwan Baek, CEO of Daewon Pharmaceutical, said, “As Pelubi was classified as a new drug in Indonesia, the export holds significance in introducing a Korean new drug to the foreign market.

 

We expect this to significantly contribute to expanding our presence in the Asian and global market.”