HK Innoen 'K-Cab', Obtains Product Approval in China... Launch Within Q2

HK Innoen's new drug for gastroesophageal reflux disease, 'K-CAB,' and its China-launched product 'Taixinzan'

[Asia Economy Reporter Chunhee Lee] HK Innoen's gastroesophageal reflux disease new drug 'K-CAB' is making a full-scale entry into the Chinese market.

HK Innoen announced on the 13th that 'K-CAB tablets (active ingredient 'tegoprazan')' has obtained the final product approval from the China National Medical Products Administration (NMPA) for the indication of erosive esophagitis.

HK Innoen signed a technology export contract worth $95 million (approximately 116.7 billion KRW) with its Chinese partner Luoxin in 2015. Luoxin conducted clinical trials and submitted the product approval application to the NMPA at the end of 2020.

With this approval, HK Innoen and Luoxin plan to launch K-CAB in the Chinese market within the second quarter. The local name has been decided as 'Taixinzan (泰欣?)', meaning 'helps great joy.' Luoxin holds exclusive sales rights in China and is responsible for production and distribution.

Luoxin is a specialized company in the gastrointestinal field, ranking third in the Chinese peptic ulcer drug market. With a large-scale sales network of over 3,000 sales personnel and the ability to establish customized marketing strategies suited to local characteristics, a rapid market settlement of K-CAB is expected.

The size of the Chinese peptic ulcer drug market reached about 3.1 trillion KRW as of the cumulative third quarter last year, surpassing the United States (about 2.8 trillion KRW), making it the largest market in the world. As K-CAB is officially launched in the rapidly growing Chinese market, which accounts for about 20% of the global peptic ulcer drug market, global sales expansion of K-CAB is expected to accelerate with the occurrence of stepwise technology fees and royalties.

Luoxin plans to steadily expand Taixinzan's indications to duodenal ulcers, Helicobacter pylori eradication, and more, while expanding formulations from tablets to injections, ultimately aiming to become the number one product in the entire Chinese peptic ulcer drug market.

Dalwon Kwak, CEO of HK Innoen, said, “This year, with the planned launch in China and acceleration of clinical trials in the United States, will be the first year for K-CAB to actively target the global market,” adding, “We will nurture K-CAB as a global blockbuster drug with the goal of exporting it to 100 countries, including Europe, by 2028.”

This content was produced with the assistance of AI translation services.