HK Innoen 'K-CAB', Signs Contract for Middle East and North Africa Expansion

HK Innoen's new drug for gastroesophageal reflux disease, K-CAB, is expanding its reach to the Middle East and North Africa region.

HK Innoen's gastroesophageal reflux disease treatment K-CAB
Photo by HK Innoen

On the 23rd, HK Innoen announced that it recently signed a contract to export finished products of the gastroesophageal reflux disease new drug K-CAB tablets to the Middle East and North Africa region with Tabuk Pharmaceuticals, a local pharmaceutical company in Saudi Arabia. Under this contract, Tabuk Pharmaceuticals will have exclusive distribution and sales rights for K-CAB.

K-CAB is a potassium-competitive acid blocker (P-CAB) type gastroesophageal reflux disease treatment developed by HK Innoen as the 30th domestic new drug. Since its launch in 2019, it has recorded a cumulative outpatient prescription performance of 553.6 billion KRW in Korea, rising to the number one market share. The drug shows rapid efficacy within 30 minutes after administration and has secured efficacy and safety even with long-term use up to six months.

Based on these achievements, it is rapidly expanding overseas. Including this contract, technology or finished product export contracts have been signed with a total of 45 countries. Among them, local launches have been completed in seven countries including China, the Philippines, Mexico, and Peru. Local development through technology transfer is also underway in three countries: the United States, Canada, and Brazil.

Tabuk Pharmaceuticals is recognized as a leading pharmaceutical company with strong sales capabilities in 17 countries in the Middle East and North Africa (MENA) region, centered on Saudi Arabia. It is expected that K-CAB's market share will rapidly increase through active sales activities. The MENA region is considered a market with great growth potential as the pharmaceutical market size is expanding mainly in countries with high national income.

Dalwon Kwak, CEO of HK Innoen, said, “Through this entry into the MENA region, K-CAB has planted its flag in all pharmerging markets including Southeast Asia, Latin America, and the Middle East and North Africa.” Ismail Shehada, CEO of Tabuk Pharmaceuticals, also stated, “Through the partnership with HK Innoen, we will provide excellent treatment options for gastroesophageal reflux disease to the people of MENA region countries, including Saudi Arabia.”