HK Innoen, Technology Export of K-CAB to Brazil, the Largest Market in Latin America

Technology Transfer to Local Pharmaceutical Company Europama
Receipt of Contract Payment, Technology Fees, and Royalties

Overview of HK Inno.N Osong Plant. / Photo by HK Inno.N

[Asia Economy Reporter Myunghwan Lee] HK inno.N announced on the 26th that it has signed a technology export contract for the new drug K-CAB tablets (active ingredient: Tegoprazan) for gastroesophageal reflux disease with Eurofarma, a major pharmaceutical company in Brazil.

Under this contract, HK inno.N will transfer the manufacturing technology of K-CAB to Eurofarma. The partner company Eurofarma plans to develop and sell K-CAB in Brazil. HK inno.N will receive technology fees at each stage, including contract signing, approval, and launch, as well as royalties based on sales. The contract period is 10 years after the product is launched locally in Brazil.

Eurofarma is the third-largest local pharmaceutical company with sales capabilities throughout Latin America, centered in Brazil.

The market size for peptic ulcer drugs in Brazil was approximately 800 billion KRW annually as of 2020, making it the largest in Latin America and the sixth largest in the world. With this technology transfer contract in Brazil, K-CAB will enter the entire American continent following technology transfers to the United States and Canada.

Dalwon Kwak, CEO of HK inno.N, said, "Recently, export contracts, follow-up clinical trials, product approvals, and local launches of K-CAB are progressing rapidly in the global market," adding, "We will further accelerate our global business with the goal of entering 100 countries by 2028."

K-CAB, a P-CAB class new drug, recorded 125.2 billion KRW in outpatient prescription performance last year alone. It is characterized by a rapid onset of effect within as short as 30 minutes after administration and securing efficacy and safety even with long-term use for six months.