Daewoong Pharmaceutical's Diabetes Drug 'Enblo' Applies for Product Approval in Mexico

Daewoong Pharmaceutical announced on the 15th that it has submitted a new drug application for Enblo, the 36th domestically developed diabetes drug, to the Mexican authorities.

Daewoong Pharmaceutical's new diabetes drug Enblo [Photo by Daewoong Pharmaceutical]

Enblo is a sodium-glucose co-transporter (SGLT)-2 inhibitor diabetes treatment developed by Daewoong Pharmaceutical, the first domestic pharmaceutical company to succeed in its development. This application in Mexico was based on domestic clinical data and was made without separate local clinical trials. The company plans to officially launch Enblo in Mexico within next year. Local sales will be handled by Moksha8, a Mexican pharmaceutical company that signed an export contract last year covering both Mexico and the Brazil region.

Mexico is considered the largest diabetes treatment market in Central America. Global market research firm Mordor Intelligence predicted that the Mexican diabetes treatment market, which exceeded 2 trillion KRW last year, will show rapid growth, reaching 3 trillion KRW by 2029.

Park Sung-soo, CEO of Daewoong Pharmaceutical, said, “The SGLT-2 inhibitor market is rapidly growing globally, so this application for Enblo’s approval in Mexico is very meaningful,” adding, “We hope that the domestic new drug Enblo will expand not only in Mexico but also throughout the Latin American markets including Brazil.”