HK Innoen 'K-CAB', Expands to 7 More Countries Including India and South Africa

Contract Signed for Finished Product Export with Indian Dr. Reddy's
India, 4th Largest Global Market for Peptic Ulcer Drugs

[Asia Economy Reporter Lee Chun-hee] HK inno.N's new drug for gastroesophageal reflux disease, 'K-CAB,' is newly entering seven countries, including India, the world's 4th largest market for peptic ulcer drugs.

HK inno.N recently announced that it signed a finished product export contract for K-CAB tablets (active ingredient 'tegoprazan') with Indian pharmaceutical company Dr. Reddy's Laboratories for seven countries: India, South Africa, and five Eastern European countries (Russia, Kazakhstan, Uzbekistan, Ukraine, Belarus). With this contract, the total number of countries where K-CAB has entered through technology export or finished product export has increased to 34.

Dr. Reddy's Laboratories, established in 1984, is a leading Indian pharmaceutical company with annual sales of approximately 3 trillion KRW and about 23,000 employees as of last year. Through Dr. Reddy's global sales network, rapid market share expansion of K-CAB is expected in emerging markets including India. Under this contract, Dr. Reddy's will have exclusive distribution rights for K-CAB in the contracted countries for 10 years after product launch.

In particular, by successfully entering India, K-CAB has now entered three of the world's top four peptic ulcer drug markets?China, the United States, and India?excluding Japan. According to IQVIA, the size of the peptic ulcer drug market in India was estimated at 740 million USD (approximately 900 billion KRW) cumulatively as of the third quarter of last year, ranking 4th after China (2.61 billion USD), the United States (2.32 billion USD), and Japan (1.7 billion USD).

Expanding K-CAB's reach to emerging markets such as Eastern Europe and Africa, in addition to existing Southeast Asia and Latin America regions, is also considered a major achievement of this contract. These emerging countries have rapidly growing pharmaceutical markets, including peptic ulcer drugs, and are expected to significantly contribute to K-CAB's global sales growth in the future.

Ramana, Head of India and Emerging Markets at Dr. Reddy's, said, "The peptic ulcer drug market is the area we are most focused on," adding, "K-CAB's excellent competitiveness and our strong sales network can create great synergy in market penetration." An HK inno.N official also stated, "This year marks the first year of K-CAB's global expansion, with global sales expected to expand significantly starting with China, where local sales recently began," adding, "Our goal is to export K-CAB to 100 countries, including Europe, by 2028.”