Daewoong Pharmaceutical announced on August 6 that it has launched its gastroesophageal reflux disease (GERD) medication, “Fexuclue,” in Mexico, Ecuador, and Chile. This marks a significant step in Daewoong’s international expansion strategy, as the drug is now available in five countries, including South Korea and the Philippines.
The combined anti-ulcer drug markets in these three Latin American countries were valued at $300 million in 2023, according to IQVIA, a drug market research firm. Fexuclue, the 34th novel drug developed by Daewoong Pharmaceutical, is a potassium-competitive acid blocker (P-CAB) that entered the market in July 2022. It addresses the limitations of existing treatments by offering rapid and stable gastric acid secretion inhibition, overcoming issues like slow efficacy and dietary restrictions.
Daewoong Pharmaceutical is pursuing further global expansion, with applications for product sale permits in 11 additional countries, including China, Brazil, and Saudi Arabia. The company aims to reach a milestone of entering 30 markets, supported by its ongoing export contracts.
CEO Park Sung-soo emphasized Daewoong’s commitment to global growth, stating, “We will pump up our efforts to attain the goal of entering 100 countries by 2027.” This ambitious plan underscores the company’s dedication to becoming a major player in the global pharmaceutical industry.
