K-CAB reports substantial progress of its market expansion in Central and South America
September 2, 2024
K-CAB, HK inno.N’s new drug for Gastroesophageal Reflux Disease (GERD) treatment, reports substantial progress of its market expansion in Central and South America
Following the recent product launch in Chile, marketing authorization has been obtained in ▲ Dominican Republic ▲ Nicaragua ▲ Honduras, etc.
HK inno.N-Carnot, poised for a product release in 6 countries in Latin America
HK inno.N announced on September 2nd that its new drug for gastroesophageal reflux disease (GERD), "K-CAB," has achieved a significant milestone in its global market expansion by obtaining marketing authorization (MA) in six Latin American countries including Colombia.
The six countries from which the MA for K-CAB (tegoprazan) has been obtained are: ▲Dominican Republic ▲Nicaragua ▲ Honduras ▲ Guatemala ▲ El Salvador ▲ Colombia. (MA was obtained under the local product name "Ki-CAB.")
K-CAB’s track record of market entry to Latin America includes 18 countries, either in the form of exporting finished products or technology transfer. Following its launch in Mexico and Peru last year, K-CAB was recently introduced in Chile and is scheduled to be launched in six more countries Latin America within this year
Carnot, HK inno.N's partner, responsible for importing and distributing K-CAB to 17 Latin American countries excluding Brazil, launched an active marketing campaign to expand the presence of K-CAB (the local product name "Ki-CAB.") in the central and south American markets.
As part of the partnership, HK inno.N and Carnot have jointly hosted academic conferences for medical professionals in South Korea and Latin America for two consecutive years. This year, specialists from Mexico and Colombia visited South Korea to share the latest trends and insights on the treatment of GERD in Mexico, different treatment options including K-CAB, and case reports related to K-CAB.
“Our efforts to penetrate the Latin American market have gained momentum based on the demand and positive response from the region,” commented Dalwon Kwak, CEO of HK inno.N. “In particular, the academic conference with Latin American gastroenterologists served as an opportunity of affirming the interest in K-CAB in the Latin American market and our support will continue with a range of activities for local customers.”
Carnot, stated, "K-CAB affirmed its position as one of the top 10 peptic ulcer treatments in Mexico within seven months from its launch and is expected to reach the top 5 this year following its continued growth," and added, "Our next milestone would be to launch K-CAB in all contracted countries by 2025 and achieve the No. 1 position in sales among the prescription drugs for gastrointestinal system in Latin America."
K-CAB, the 30th novel drug in South Korea, is a P-CAB drug for GERD treatment. It is characterized by rapid onset of action within 30 minutes after administration and proven efficacy and safety even with long-term use for up to six months. Since its domestic launch in 2019, K-CAB recorded a total outpatient prescription sales of KRW 617.4 billion up till July 2024. The product has been the No. 1 market leader in peptic ulcer treatments for four consecutive years.
K-CAB’s entry to global pharmaceutical markets spans across 45 countries including the US and China, of which nine countries including South Korea have officially launched Recently, the Mexican Association of Gastroenterology (the Asociación Mexicana de Gastroenterología) published a guideline recommending P-CAB class drugs as initial treatment in GERD. This is expected to further increase the presence of K-CAB in the market of peptic ulcer treatments in Central and South America. [The End]
[Reference information]
■ P-CAB: Potassium Competitive Acid Blocker
■ Mexican Association of Gastroenterology: the Asociación Mexicana de Gastroenterología
■ K-CAB’s successful track record of market entry to Central and South America includes the following 18 countries: Brazil, Mexico, Argentina, Colombia, Peru, Chile, Ecuador, Uruguay, Paraguay, Bolivia, Venezuela, Dominican Republic, Guatemala, Honduras, Nicaragua, Costa Rica, Panama, and El Salvador. (Of these, Carnot is an exporter for 17 countries, which excludes Brazil.)
■ Overview of K-CAB’s market presence in Central and South America
- Technology transfer (1 country): Brazil (December 2022)
- Product release (3 countries): Mexico (May 2023), Peru (October 2023), Chile ( August 2024)
- Marketing authorization (6 countries/product release scheduled within 2024): Dominican Republic, Nicaragua, Honduras, Guatemala, El Salvador, Colombia