K-CAB to export the technologies to Brazil
Jan 26, 2023
HK inno.N is set to export the technologies used to produce K-CAB to Brazil, one of the largest markets in Latin America.
The technologies used in manufacturing K-CAB will be transferred to Eurofarma, a local pharmaceuticals company of a major scale.
This will make K-CAB available in 35 countries outside of Korea, among which 18 will be in Latin America, as HK inno.N continues to focus on the emerging markets for pharmaceuticals when it comes to promoting K-CAB.
K-CAB, the 30th novel drug to be developed in Korea, has chosen Brazil, one of the largest Latin American market for pharmaceuticals, as its 35th country to enter. With this upcoming technological transfer to Brazil, K-CAB will be marking a major achievement by foraying into the broader Americas that cover not only North America, but also Latin America.
HK inno.N announced on 26th that it signed an agreement with Eurofarma, a major pharmaceuticals firm in Brazil, for the transfer of technologies associated with K-CAB, a novel drug for GERD that has Tegoprazan as its active ingredient.
As the third largest pharmaceuticals firm in Latin America among regional capitalized companies, Eurofarma has its own operations in 20 different countries in the region.
This latest agreement to transfer technologies associated with K-CAB to Brazil follows on the heels of technological transfers to the U.S. and Canada, making K-CAB set to become available throughout the entire Americas and boosting the value of Korean novel drugs in the process.
President of HK inno.N Dalwon Kwak commented, “K-CAB has been seeing great progress in recent years in international markets, in terms of export contracts, follow-up clinical studies, approvals and market launches in global markets. HK inno.N’s goal is to have the product enter 100 countries by year 2028. We are doubling down on our global business to meet that goal.”
“The partnership will bring benefits to prescribers and patients as it is a high-tech and effective medicine”, says Martha Penna, Eurofarma’s Innovation VP. “The announcement reinforces the movement undertaken by Eurofarma for new partnerships regarding innovation and globalization.”
K-CAB, a novel drug to treat GERD, falls within the category of P-CAB drugs and has already been a big hit in its native Korean market. A total of KRW 125.2 billion worth of prescriptions for K-CAB have been written for out patients in Korea last year alone in Korea. The quick onset time of just 30 minutes and the proven efficacy and safety even when taken for a longer period of six months make the drug particularly appealing.
It has now entered a total of 35 countries. The most recent launch was in the Philippines, following the launch in China. Meanwhile, a government approval for K-CAB has been acquired in Mongolia, Indonesia and Singapore, and approvals are ongoing or in preparations in 27 countries including Mexico. Development to gear up for local manufacturing is underway in the three countries of U.S.A., Canada and Brazil.