HK inno.N’s GERD drug K-CAB has expanded its momentum to the Middle East and North Africa region.
Starting from China and expanding across Asia and North and South America, K-CAB is increasing its global market dominance by advancing to the Middle East and North Africa markets, according to the company.
HK inno.N said Tuesday that it had signed a contract with Tabuk Pharmaceuticals, a leading pharmaceutical company in Saudi Arabia, to export the finished product of K-CAB Tablets (tegoprazan) to the Middle East and North Africa region. Under the agreement, Tabuk Pharmaceuticals will have exclusive distribution and commercialization rights for K-CAB in these markets.
Since its launch in 2019, K-CAB has been exported to 45 countries as either technology or finished products, including the latest agreement.
Tabuk Pharmaceuticals is a leading pharmaceutical company with a strong sales presence in 17 countries in the Middle East and North Africa (MENA) region, centered in Saudi Arabia. Through active sales activities, K-CAB’s market share is expected to increase rapidly.
The Korean company said that the MENA region has great potential for future growth as the pharmaceutical market is expanding in countries with high national incomes.
“With this entry into the MENA region, K-CAB has planted its flag in the pharmaceutical markets of Southeast Asia, Latin America, and the Middle East and North Africa,” HK inno.N CEO Kwak Dal-won said.
HK inno.N Vice President Song Geun-seok said, “We will continue to accelerate our global business, aiming to enter 100 countries by 2028 and achieve global and local sales of 2 trillion won ($1.4 billion) by 2030.”
Tabuk Pharmaceuticals CEO Ismail Shehada said, “Through our partnership with HK inno.N, we will bring superior GERD treatment options to the people of the MENA region, including Saudi Arabia.”
Tabuk Pharmaceuticals Chief Business Development Officer Wisam Alkhatib said, “Through this partnership, we will expand our expertise and innovative business and strengthen our leading position in the peptic ulcer disease market.”
K-CAB is Korea’s 30th homegrown new drug and a novel P-CAB-based treatment for gastroesophageal reflux disease. Since its launch in 2019, it has been ranked No. 1 in the domestic market for four consecutive years, with cumulative outpatient prescription sales of 553.6 billion won through March this year. It is characterized by its rapid onset of effect within 30 minutes after taking it, having secured its efficacy and safety even when taken for a long period, up to six months.
It has entered 45 countries.
Specifically, it has been launched locally in seven countries, including China, the Philippines, Mexico, and Peru. Recently, it was approved for marketing authorization in Chile, the Dominican Republic, Nicaragua, and Honduras and is under review in other Latin American countries. It is being developed locally through technology transfer in three countries: the United States, Canada, and Brazil.