Fexuprazan, Acid Blocker of Daewoong Pharmaceutical Gains Ground in Latin America through an Export Agreement with Brazil

Fexuprazan, Acid Blocker of Daewoong Pharmaceutical Gains Ground in Latin America through an Export Agreement with Brazil - USD 73 million export agreement with Brazil... Second destination in Latin America after Mexico - EMS, Daewoong’s local partner, is the no. 1 pharmaceutical company in Brazil, allowing Daewoong to benefit from its network that covers 90% of medical institutions in Brazil Fexuprazan, an acid blocker of Daewoong Pharmaceutical (Daewoong) (CEO Sengho Jeon), is making inroads into Brazil, the largest market in Latin America. Daewoong announced on the 14th that it has signed an export agreement with EMS, Brazil’s no. 1 pharmaceutical company, for Fexuprazan. The export agreement is worth over USD 73 million (approx. KRW 86 billion), including royalties. Along with the agreement signed in Mexico earlier this year, Daewoong has concluded agreements worth USD 123 million for Fexuprazan alone in Latin America. This agreement grants the local partner EMS with the local license and sales right for products supplied by Daewoong. EMS is Brazil’s no. 1 pharmaceutical company and holds a sales network that covers 90% of local medical institutions, and its parent group NC Farma records annual sales of KRW 3 trillion. Daewoong is now ready to combine its product competitiveness with the best sales, development and marketing capacities in Brazil to enable its rapid expansion of market share in Brazil. Fexuprazan is a novel potassium-competitive acid blocker (P-CAB) developed by Daewoong, which reversibly blocks the proton pump that secretes gastric acids in the cannalicular membrane. It is a next-generation proton pump inhibitor (PPI), which is widely used for treating gastroesophageal reflux disease (GERD). Hyunjin Park, head of Daewoong’s Global Business Division, said, “This agreement signed with Brazil again highlights the recognition of our product quality in Latin America after Mexico.” “As the best-in-class innovative drug of its kind, Fexuprazan is about to proceed to the clinical trials in the US and China, and we will continue to expand our market throughout the world including Latin America and the Middle East,” she added. #  #  #

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