HK Innoen 'K-Cab', Sales Begin in Chinese Market

[Asia Economy Reporter Lee Chun-hee] HK Innoen's gastroesophageal reflux disease treatment 'K-CAB (active ingredient 'tegoprazan')' is making a full-scale entry into the Chinese market.

HK Innoen announced on the 3rd that its Chinese partner Luoxin held a large-scale launch event for K-CAB tablets on the 28th of last month and officially started local sales. This came just 15 days after receiving product approval from the China National Medical Products Administration (NMPA) on the 13th of last month. The local launch name was decided as 'Taixinzan (泰欣?)', meaning 'helps great joy.'

Thousands of employees, including key executives of the company, participated online and offline in the event to pledge the success of Taixinzan. At the event, Luoxin set the annual sales target for Taixinzan at 1 billion yuan (approximately 190 billion KRW) in its second year of launch next year, and plans to develop it as a representative blockbuster product with annual sales of 3 billion yuan (approximately 569.9 billion KRW) in the mid to long term.

Under the partnership with HK Innoen, Luoxin plans to steadily expand the indications of Taixinzan and extend the formulation beyond tablets to injections, aiming to become the number one product in the Chinese peptic ulcer drug market.

With the local launch in China, HK Innoen's global sales of K-CAB are also expected to expand significantly due to stepwise royalties and license fees.

Luoxin CEO Liu Zhenteng said, “We focused on advancing the schedule, which usually takes several months from product approval to launch, because we have high expectations for Taixinzan,” and added, “We will actively nurture Taixinzan as the best new drug in the market.” HK Innoen CEO Kwak Dal-won said, “We will actively support Luoxin so that K-CAB can become a blockbuster new drug in China as well,” and added, “Our goal is to accelerate K-CAB’s global market expansion and export it to 100 countries, including Europe, by 2028.”