inno.N

February 20, 2024
 

K-CAB, HK inno.N’s new drug for GERD treatment, obtains marketing authorization from Chile   

K-CAB, HK inno.N’s novel drug for Gastroesophageal Reflux Disease (GERD) treatment, obtained marketing authorization in Chile. The drug already made its mark in the Latin America market by successful market entries into 18 Latin American countries, by tech transfer and or finished product exports. Within a year, K-CAB has produced significant results across 4 countries, including tech transfer to Brazil, product launches in Mexico and Peru, and the marketing authorization in Chile.

HK inno.N announced on the 20th that K-CAB (ingredient: tegoprazan), a new drug for GERD treatment, recently obtained marketing authorization from the National Drug Agency (Departamento Agencia Nacional de Medicamentos, ANAMED) under the Public Health Institute (ISP) of Chile. HK inno.N had already signed an agreement for finished product export of K-CAB with Laboratorios Carnot, a major pharmaceutical company in Mexico with expertise in the Latin America market. 

K-CAB will be marketed in Chile under the brand name Ki-CAB, and is approved for the four indications: △ treatment of Erosive Gastroesophageal Reflux Disease △ treatment of Non-Erosive Gastroesophageal Reflux Disease △ treatment of Gastric Ulcer △ eradication of Helicobacter pylori in patients with peptic ulcers and/or chronic atrophic gastritis. 

K-CAB has entered a total of 35 countries, including the United States, China, and Latin America, by tech transfer or finished product export. Milestones of K-CAB’s entry to the Latin America market includes technology transfer to Brazil, the largest pharmaceutical market in Latin America, in December 2022, followed by a product launch in Mexico, the second largest market in the region in May 2023, followed by launch in Peru during October 2023. With a series of significant results in a total of 4 Latin American countries including the marketing authorization in Chile, K-CAB is set to affirm its No.1 position as the No.1 P-CAB in the Latin American pharmaceutical market, a market valued at KRW 74 trillion.

HK inno.N’s CEO Dalwon Kwak commented, “Latin America is one of the markets with the largest growth potential with K-CAB growing at a very fast, affirming its position as the No.1 P-CAB. With multiple approvals expected in Latin America this year, K-CAB is strengthening its global presence”

K-CAB, Korea’s 30th novel drug, is a P-CAB class new 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. In Korea, it recorded outpatient prescription sales of KRW 158.2 billion from January to December last year. Since its release, K-CAB has been the steady No. 1 market leader in digestive disease treatment sector for four consecutive years. The drug’s cumulative prescription sales from 2019 to 2023 is estimated to be KRW 508.5 billion.

K-CAB has been released in 7 out of the licensed out 35 countries, including China, Mongolia, the Philippines, Mexico, Indonesia, Singapore, and Peru. (The End) 

[Reference information]

- P-CAB: Potassium Competitive Acid Blocker.

- K-CAB is exported in the following 18 countries of Central and South America: Brazil, Mexico, Argentina, Colombia, Peru, Chile, Ecuador, Uruguay, Paraguay, Bolivia, Venezuela, Dominican Republic, Guatemala, Honduras, Nicaragua, Costa Rica, Panama, and El Salvador. Of these, Laboratorios Carnot is an exporter for 17 countries.

- Exchange rate: KRW 1,328.1/USD 1 (as of February 13, 2024)

- Source of the outpatient prescription sales data in Korea: UBIST

- The estimated value of pharmaceutical market in Central and South America: USD 56.2 billion, IQVIA 2022 MAT

* Countries included in the market value estimation: Brazil, Mexico, Argentina, Central America, Chile, Ecuador, Colombia, Peru, Venezuela, Dominican Republic, Uruguay (the rest omitted)