Ja Q Bo ₩9B, K-CAB ₩8.2B, Fexuclue ₩4.7B

K-CAB drugs generate export sales

Domestically developed P-CAB-based new drugs generate export sales... Ja Q Bo generates 61% of last year's sales from exports

K-CAB drugs have generated export sales since 2022... Cumulative exports reach KRW 13.9 billion

Fexuclue launched in the Philippines... Last year's sales exceeded KRW 100 billion

Homegrown P-CAB class new drugs for gastroesophageal reflux disease (GERD) have begun to generate export sales.

 

Onconic Therapeutics’ Ja Q Bo generated significantly more overseas sales than domestic sales due to the effect of its licensing out deals.

 

HK Inno.N's K-CAB and Daewoong Pharmaceutical's Fexuclue have begun to generate export sales in earnest with their overseas launch.

 

As P-CAB class new drugs demonstrated their marketability in the domestic market through commercial success, overseas sales are expected to grow with the increase in the number of export countries.

 

According to the Financial Supervisory Service on the 25th, Onconic Therapeutics' Ja Q Bo generated KRW 14.8 billion in sales last year.

 

Onconic Therapeutics, which was established in May 2020, is a new drug developer subsidiary of Jeil Pharmaceutical.

 

Onconic Therapeutics was launched after receiving technology transfer of new drug candidates for gastroesophageal diseases and a new drug candidate for anticancer drugs from Jeil Pharmaceutical.

 

As of the end of last year, Jeil Pharmaceutical holds a 46.28% stake in Onconic Therapeutics.

 

Onconic Therapeutics was listed on the KOSDAQ market in December last year.

 

Onconic Therapeutics completed clinical trials for Ja Q Bo, a P-CAB (potassium-competitive acid blocker) class new drug, and received approval for the drug as the 37th homegrown new drug in April last year.

 

Antiulcer drugs in the P-CAB class inhibit gastric acid secretion by competitively binding to proton pumps and potassium ions located at the final stage of acid secretion in gastric parietal cells.

 

Annual export sales of homegrown P-CAB class new drugs

Last year, exports accounted for 60.8% of Ja Q Bo's sales, amounting to KRW 9 billion.

 

Ja Q Bo began domestic sales in October last year after being listed for reimbursement in the National Health Insurance, recording KRW 5.8 billion in domestic sales.

 

Ja Q Bo's export performance last year was due to the inflow of milestone payments from the results of the licensing-out agreement.

 

Onconic Therapeutics has signed licensing out deals for Ja Q Bo in 21 countries.

 

Onconic Therapeutics signed a licensing out deal with the Mexican pharmaceutical company Laboratorios Sanfer in September last year.

 

The contract is worth up to USD 127.5 million.

 

Onconic Therapeutics will receive an initial non-refundable upfront payment of USD 15 million and up to USD 112.5 million in milestone payments for development, licensing, and commercialization milestones.

 

Onconic Therapeutics transferred Ja Q Bo to an Indian company in May last year.

 

The Indian company has secured exclusive rights to the development, licensing, production, and post-launch commercialization of Ja Q Bo.

 

The terms of the contract with the other party have not been disclosed.

 

Ja Q Bo generated KRW 21.1 billion in exports in 2023.

 

Onconic Therapeutics signed a licensing-out agreement for Ja Q Bo with Livzon Pharmaceutical Group, a Chinese pharmaceutical company, in March 2023.

 

The contract size is up to USD 127.5 million.

 

Onconic Therapeutics will receive a USD 15 million non-refundable upfront payment and up to USD 112.5 million in milestone payments for development, licensing, and commercialization.

 

Onconic Therapeutics generated KRW 19.7 billion in sales in the first quarter of 2023.

 

Sales of K-CAB, a new P-CAB class drug that first entered the domestic market, and Fexuclue have also been increasing gradually overseas.

 

HK Inno.N’s K-CAB recorded KRW 8.2 billion in exports last year.

 

This is the overseas sales of the finished drug, excluding technology fees and milestone payments.

 

Although the overseas sales share in K-CAB's total sales of KRW 168.9 billion is negligible, the export value is continuously increasing.

 

K-CAB recorded its first export performance of KRW 900 million in 2022 and KRW 5.5 billion in overseas sales in 2023.

 

K-CAB was approved as the 30th homegrown new drug in 2018.

 

HK Inno.N signed a technology export agreement with the Chinese pharmaceutical company Luoxin in 2015 and has been pushing K-CAB's overseas expansion in earnest.

 

The contract with Luoxin is conditional on receiving a total of USD 18.5 million in technology fees upon achievement of each stage specified in the contract, including the down payment, clinical development, licensing, and commercialization.

 

HK Inno.N

In February 2019, the company signed an agreement with the Mexican pharmaceutical company Carnot to export the finished K-CAB drug to 17 Latin American countries.

 

The contract is worth USD 84 million over 10 years, including the product supply price.

 

HK Inno.N has since signed export contracts for K-CAB with Indonesia, Thailand, the Philippines, Mongolia, Singapore, Vietnam, Malaysia, the United States, and Canada.

 

In January of last year, it signed a contract with Australian pharmaceutical company Southern XP to export K-CAB to Australia and New Zealand.

 

K-CAB has been launched in 15 countries.

 

The countries where K-CAB has been launched include China, the Philippines, Mongolia, Mexico, Indonesia, Singapore, Peru, Chile, the Dominican Republic, Nicaragua, Honduras, Guatemala, El Salvador, and Colombia.  K-CAB's export performance has been boosted by its start of sales in Mongolia, China, the Philippines, and other countries starting in 2022.

 

K-CAB set new export records in the third and fourth quarters of last year, with exports of KRW 2.5 billion and KRW 3.8 billion, respectively.

 

K-CAB's cumulative export performance from 2022 is estimated to total at KRW 13.9 billion.

 

This is the sales volume of K-CAB supplied by HK Inno.N.

 

Therefore, the company estimates that the sales generated from local prescriptions on-site would be much higher.

 

K-CAB is considered to be making a smooth start in the overseas market based on its marketability recognized in Korea.

 

K-CAB's domestic sales last year reached KRW 160.7 billion.

 

Daewoong Pharmaceutical's Fexuclue recorded KRW 4.7 billion in exports last year.

 

In 2023, the company recorded its first export value of KRW 400 million, which increased more than tenfold last year.

 

Fexuclue is the second domestically developed P-CAB class drug introduced, following K-CAB.

 

Fexuclue is a homegrown new drug that Daewoong Pharmaceutical has successfully developed with its proprietary technology for 13 years since 2008.

 

Daewoong Pharmaceutical

Fexuclue first went on sale overseas in the Philippines in August 2023 and has begun generating export sales.

 

Fexuclue has also been launched in Mexico, Ecuador, and Chile.

 

Fexuclue has entered the market in 30 countries, including South Korea, or is about to enter the market.

 

The countries that have applied for product licenses are 11 countries, including China, Brazil, and Saudi Arabia.

 

Daewoong Pharmaceutical has signed export contracts for Fexuclue in 14 countries, including India and the United Arab Emirates.

 

Fexuclue also made a smooth start in the domestic market.

 

Fexuclue obtained approval from the Ministry of Food and Drug Safety in December 2021 and began full-scale sales after being listed for reimbursement with the National Health Insurance in July 2022.

 

Fexuclue posted KRW 97.2 billion in domestic sales last year.

 

Combined with its export performance, the company posted a total sales of KRW 102 billion, exceeding KRW 100 billion in sales for the first time in 3 years since its launch.