Daewoong Paxclue Targets Annual Sales of 100 Billion KRW... Aiming for a 'Global Blockbuster'

Interview with Seo Wook, Head of Marketing Division at Daewoong Pharmaceutical
In charge of commercialization and marketing of Pexuclu

Daewoong Pharmaceutical's first oral new drug
13 years dedicated to research and development
Sales exceed 40 billion KRW in first year after launch

"Foreign conferences have always been someone else's party where we listen to and study foreign pharmaceutical companies' drugs, but participating in a symposium on domestic new drugs feels different."

Seo Wook, Head of Marketing Division at Daewoong Pharmaceutical, is discussing the marketing strategy of Pexuclu. Photo by Yongjun Cho jun21@asiae.co.kr

In May, at 'DDW 2023 (Digestive Disease Week 2023),' the world's largest gastroenterology conference held in Chicago, USA, Seo Wook, Head of Marketing Division at Daewoong Pharmaceutical, was approached by domestic medical professionals who said this. Regarding the fact that a Korean pharmaceutical company held a solo symposium at a global conference, there was an evaluation that "I never thought about Korean new drugs entering overseas markets, but I feel proud that it has become a reality." During the event, Daewoong Pharmaceutical set up an academic booth and held a symposium on the theme of 'Pexuclu,' presenting clinical data on Pexuclu. In the past, most of the symposiums held at this conference were by major foreign pharmaceutical companies.

Pexuclu (active ingredient: fexuprazan) is a potassium-competitive acid blocker (P-CAB) type new drug for gastroesophageal reflux disease launched by Daewoong Pharmaceutical in July last year. It is also the first oral new drug released by Daewoong Pharmaceutical since its founding. Development of Pexuclu began in 2008 and took 13 years of research and development (R&D).

P-CAB drugs have faster onset and longer duration of effect compared to proton pump inhibitors (PPIs), which were mainly used for treating gastroesophageal reflux disease. Additionally, Pexuclu improves on the drawbacks of PPIs, such as nighttime heartburn and ease of administration. Among drugs in the same class, Pexuclu is characterized by having the longest half-life. Its half-life reaches 9 hours, and the longer half-life means prolonged efficacy, which can reduce patients' nighttime heartburn symptoms.

Seo Wook, Head of Marketing Division at Daewoong Pharmaceutical, is discussing the marketing strategy of Pexuclu. Photo by Yongjun Cho jun21@asiae.co.kr

Marking its first anniversary in July, Pexuclu achieved sales of 41 billion KRW over one year. The market evaluates this as a good performance. Seo, the head of the division, said, "In the early days after launch, there were many sleepless nights due to the pressure to succeed." This was because it was the company's first oral new drug and the related market was growing, so expectations were high both inside and outside the company. He added, "After achieving the initial goals within one year, I feel relief mixed with some regrets," and said, "It is a time to tighten the reins even more for new goals."

Pexuclu aims to achieve annual sales of 100 billion KRW in 2024. This means more than doubling sales within one year. The domestic market is already led by K-CAB, launched in 2019, which has surpassed annual sales of 100 billion KRW, and latecomers are rushing to enter the market. Seo plans to promote Pexuclu's excellence through academic symposiums targeting domestic and international medical professionals. Additionally, by informing medical professionals and patients about the superiority of P-CAB drugs, they plan to increase the market share of P-CABs in the overall gastroesophageal reflux disease market. If Pexuclu's indications or formulations diversify in the future, the messaging will be further segmented.

They continue to knock on overseas markets as well. They have already obtained product approvals in Latin American countries such as the Philippines, Chile, and Ecuador, and have completed product approval applications in a total of 12 countries, including China, the world's largest anti-ulcer drug market. For major regions such as North America, they have terminated the clinical development and commercialization license agreement with Neurogastrix and are conducting specific discussions with two global big pharma companies. Separately from product approvals, they have signed technology export contracts with 18 countries. Seo said, "We will focus on promoting and selling Pexuclu by setting even bigger goals beyond annual sales of 100 billion KRW," and added, "We will strive to grow this domestic new drug into a blockbuster overseas as well, creating a new success model not only for Daewoong Pharmaceutical but also for the industry."

Seo Wook, Head of Marketing Division at Daewoong Pharmaceutical, is holding and explaining a Pexuclu prototype. Photo by Yongjun Cho jun21@asiae.co.kr

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