HK inno.N and TABUK PARTNER TO BRING K-CAB®(TEGOPRAZAN) AN INNOVATIVE MEDICINE TO THE MENA REGION.
April 23, 2024
HK inno.N and TABUK PARTNER TO BRING K-CAB®(TEGOPRAZAN) AN INNOVATIVE MEDICINE TO THE MENA REGION.
HK inno.N a leading Korean pharmaceutical announced today an exclusive license agreement with Tabuk Pharmaceutical Manufacturing Company (a fully owned subsidiary of Astra Industrial Group), a leading Saudi pharmaceuticals company, to commercialize Tegoprazan a novel potassium-competitive acid blocker (P-CAB) which are regarded as the next-generation for the treatment of gastroesophageal reflux disease (GERD) and other acid-related conditions in Middle East region.
Under the agreement, Tabuk has the exclusive rights for commercialization and marketing of K-CAB®( Tegoprazan) in the Middle East and North Africa. K-CAB®(Tegoprazan) has also been licensed out to 35 countries including the US and K-CAB to be the first potential Korean global blockbuster drug in the pharmaceutical industry with ongoing Phase 3 clinical trials in the US advancing at a timely rate.
Since its launch in 2019, K-CAB® is considered Korea’s 30th new drug recording cumulative sales of 553.6 billion won till end of Mar 2024. Moreover, K-CAB® has been ranked the No.1 gastroesophageal reflux disease drug for 4consecutive years in the Korean market.
Kwak Dal-won, CEO of HK inno.N, said, “Through this expansion into the MENA region, K-CAB® has established footprints in the pharma emerging markets of Southeast Asia, Central and South America, the Middle East, and North Africa.”
Song Geun-seok, Vice president of HK inno.N also said, "We will accelerate our global business to enter 100 countries by 2028 and achieve global sales of 2 trillion won by 2030."
“As part of our role and mission in Tabuk to deliver unique health solutions to people of Saudi Arabia and remaining MENA countries our partnership with HK inno.N comes in as an evident choice to further support our mission in line with Saudi vision 2030 regarding innovation,” said Ismail Shehada CEO of Tabuk.
Wisam Alkhatib, Chief Business Development Office at Tabuk “This partnership builds on our strategy to expand our specialty and innovative business and reinforces our leading position in the gastrointestinal market with this new class of medicine”.
About Tegoprazan
Tegoprazan is a novel P-CAB for the treatment of EE, a chronic and progressive condition that impacts millions of patients worldwide. It is designed to block proton pumps from secreting gastric acid in the stomach. P-CABs have been shown to act more rapidly and suppress the secretion of acid more effectively and more durably than proton pump inhibitors (PPIs).
The new drug Tegoprazan is a potassium-competitive acid blocker (P-CAB). P-CABs are regarded as the next-generation treatments to replace proton pump inhibitors (PPI), often used for gastroesophageal reflux disease (GERD).
Over 80 clinical studies either are in progress or have been completed, and 60-plus theses have been published by renowned journals in Korea and overseas. With extensive studies on indications, K-CAB carries the most indications among the P-CAB drugs in Korea. Moreover, the company addressed administration convenience by developing the ODT (orally disintegrated tablet) formulation and is in the development of injections for emergency patients.
About HK inno.N
HK inno.N was established as CJ CheilJedang Pharmaceutical Business Department in 1984 and launched as CJ Healthcare in 2014. It was incorporated into Kolmar Group in 2018 and changed its name to HK inno.N in 2020. HK inno.N has technology-oriented business competitiveness in the field of prescription drugs and Health & Beauty under the mission of ‘Heal the World for a Better Life’. In the field of prescription drugs, it is focusing its capabilities on developing innovative drugs with high market value based on its ability to develop Korea's 30th novel drug ‘K-CAB®’, and grow it into a blockbuster novel drug. In the field of Health & Beauty, starting with 'CONDITION', the No.1 hangover relief brand in Korea, it is further enhancing the company's future value through expansion into beverages, health foods, and cosmetics.
About Tabuk
Tabuk Pharmaceutical Manufacturing Company is a leading Saudi pharmaceutical company with a regional presence in the Middle East and North Africa. Tabuk Pharmaceuticals develops, manufactures, markets and distributes various branded generics, in addition to manufacturing pharmaceutical products for renowned international partners at its manufacturing sites in Saudi Arabia, as part of its continuous efforts to cover the needs of patients by providing high quality medicines. Tabuk Pharmaceuticals is a major player in the pharmaceutical sector not only in the Kingdom of Saudi Arabia, but also in the Middle East and North Africa, thanks to its four state-of-art manufacturing sites located in Tabuk and Dammam in the Kingdom, as well as in Sudan and Algeria, and orchestrated by a team of more than 2,400 employees. Tabuk pharmaceuticals reaches patients in 17 countries in the Middle East and Africa, in addition to futuristic plans to expand its presence in the region.