Daewoong Pharmaceutical and Chong Kun Dang announced on the 1st that they will jointly sell P-CAB-based gastroesophageal reflux disease treatment "Pexuclu (No. 34, a new domestic drug)."
The cooperation was conducted in order to maximize synergy by putting the value of shared growth ahead of the two companies' sales and marketing capabilities.
Pexuclu is a new domestic drug released by Daewoong Pharmaceutical in July 2022 and has grown into a blockbuster with a cumulative prescription of 77.6 billion won as of February.
According to the Pharmaceutical Statistics Information Ubist, the prescription amount of P-CAB and PPI preparations as of the fourth quarter of last year totaled 239.2 billion won, accounting for 25.9% (61.9 billion) of P-CAB.
The market share of P-CAB has risen steadily since the first quarter of 2019, when it was launched (1.6%). Daewoong Pharmaceutical plans to achieve annual domestic sales of 300 billion won by 2030.
Lee Chang-jae, CEO of Daewoong Pharmaceutical, said, "We will use the experience of successfully launching new P-CAB drugs to help Pexuclu reach patients with gastroesophageal reflux disease as an effective treatment option," adding, "We will make this cooperation an example and successful example of shared growth in the industry and further use it as a stepping stone to realize Pexuclu's 1st Product 1st Group."
Chong Kun Dang has already successfully launched P-CAB products in the market and grown them into blockbuster drugs, said Kim Young-joo, CEO of Chong Kun Dang. "We will make all-out efforts to lead the domestic gastroesophageal reflux disease treatment market by creating synergy between the abundant know-how accumulated in the P-CAB market and the strong sales and marketing capabilities of the two companies.“
[WIKI KOREA=Cho Eun, Reporter]
choeun@wikileaks-kr.org
