Daewoong Pharmaceutical Kicks Off Global Market Expansion of Fexuprazan

Daewoong Pharmaceutical Kicks Off Global Market Expansion of Fexuprazan - Signed an export agreement for Fexuprazan with Mexico, the second largest pharmaceutical market in Latin America - With clinical trials beginning in the US and China, continue to expand globally through partnerships with leading pharmaceuticals in Asia, Latin America, the Middle East and Commonwealth of Independent States (CIS) Daewoong Pharmaceutical (Daewoong) took its first step in advancing its next generation gastroesophageal reflux disease drug Fexuprazan into the global market. Daewoong (CEO Sengho Jeon) announced on Jan. 22 that it signed an export agreement with Mexico for its next generation gastroesophageal reflux disease drug Fexuprazan. Daewoong is planning to actively target the global market worth KRW 40 trillion, beginning with Fexuprazan’s export agreement. The agreement is worth USD 50 million including technical fees, and the company is aiming to launch it in the second half of 2022 by quickly obtaining local marketing authorization. Under this agreement, Daewoong, which has the licensing right for Fexuprazan, will provide the product to local partner Moksha8, which will have the right to sell the product in its local market. Both countries are planning to continue to discuss evidence-based marketing strategies. Moksha8 is a professional pharmaceutical which has successfully sold various products from global pharmaceuticals for digestive, cardiovascular and central nervous systems and has a network of hospitals and clinics covering all across Mexico. Mexico is the second largest pharmaceutical market in Latin America following Brazil, and proton pump inhibitors (PPI), which are widely used for reflux esophagitis, account for 95% of the antiulcer drug market. Hyun Jin Park, Director of Global Division of Daewoong, said, “Daewoong presents its blueprint for advances in the global market by entering Mexico, which has high treatment needs for gastrointestinal diseases. We are soon beginning clinical trials for Fexuprazan, which we develop as a best-in-class drug, in the US and China, and will expand our market across the world including Latin America and the Middle East.” #  #  #

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