Scheduled for Local Release in Q3
[Asia Economy Reporter Lee Chun-hee] HK inno.N's new drug for gastroesophageal reflux disease, 'K-CAB,' has received product approval in the Philippines, marking its official entry into the Southeast Asian market.
HK inno.N announced on the 23rd that K-CAB tablets (active ingredient 'tegoprazan') received final product approval from the Philippine Food and Drug Administration (FDA) on the 18th. With this, K-CAB has obtained its third overseas approval following Mongolia and China. The indications include erosive and non-erosive gastroesophageal reflux disease, gastric ulcers, and combination antibiotic therapy for Helicobacter pylori eradication.
K-CAB is a new drug for gastroesophageal reflux disease belonging to the 'potassium-competitive acid blocker (P-CAB)' class. The company explains that compared to existing drugs, it acts faster, has superior duration of effect, and can be taken regardless of meals. Last year, it became the first drug in Korea to surpass 100 billion KRW in outpatient prescription sales and secured the number one market share in the domestic peptic ulcer treatment market for two consecutive years.
The local launch in the Philippines is scheduled for the third quarter of this year, with partner Metro Pharma Phils, Inc. (MPPI) holding exclusive sales rights and handling marketing and distribution. HK inno.N previously signed a finished product export contract for K-CAB with MPPI in 2019.
HK inno.N plans to continue obtaining product approvals and local launches in 34 countries where it has signed technology and finished product export contracts for K-CAB. In China, where approval has been completed, local partner Luoxin held a large-scale launch event at the end of last month and has begun full-scale local sales.
Kwok Dal-won, CEO of HK inno.N, stated, “In addition to Mongolia, China, and the Philippines, K-CAB is undergoing approval procedures in other major overseas countries it has entered, so this year is expected to mark the official global debut of K-CAB.” He added, “We will develop K-CAB into a blockbuster product that succeeds not only domestically but also in the global market.”
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