Korea's leading pharmaceutical firm Daewoong Pharmaceutical announced on October 19 that it will participate in the world's largest pharmaceutical bio event "CPHI Worldwide 2023" (CPHI), which will be held in Barcelona, Spain, from October 24 to 26.
CPHI is the world's largest pharmaceutical bio conference held annually in major European countries. More than 47,000 industry stakeholders from more than 150 countries around the world are expected to attend the event.
Daewoong Pharmaceutical will have an exclusive booth again this year and plans to accelerate the signing of overseas partnership agreements centered on its self-developed new drugs, including gastroesophageal reflux disease treatment "Fexuclue" (ingredient name: fexuprazan) and SGLT-2 inhibitor-based diabetes treatment "Envlo" (ingredient name: enavogliflozin).
Based on Daewoong Pharmaceutical's excellent technology and global business capabilities, the company aims to strengthen cooperation with overseas partners to expand the global market and discover new business opportunities.
At the CPHI held last year, Daewoong Pharmaceutical found the first African partner for Pexuclu and succeeded in securing an export contract. This year, it is expected to successfully find new partners and strengthen business with existing partners.
Fexuclue officially launched in the Philippine market a year after its launch, signaling its entry into the global market. Less than a year after its domestic launch, it has already received product licenses in three Latin American countries, including the Philippines, Ecuador, and Chile. Due to its aggressive global market development, it was also recorded as the domestically developed new drug that applied for the most countries in the shortest period of time.
A total of 12 countries, including China, Mexico, Brazil, Saudi Arabia, and Indonesia, have applied for Fexuclue. In addition, a total of 14 countries have signed technology export contracts, including China.
Envlo, which has been attracting attention in the global market even before its launch, signed an export contract worth 100 billion won with Brazil and Mexico earlier this year. Brazil and Mexico, which account for 70% of the total diabetes market in Latin America, are the largest markets in Latin America, with a combined market size of about 2 trillion won.
