Daewoong Pharmaceutical "No.1 Global Recognition Among Domestic Pharma Companies... Fruits of R&D Investment"

Korea Health Industry Development Institute Overseas Awareness Survey
Nabota? Pexuclue? Enblo Smooth Sailing Globally

Daewoong Pharmaceutical announced on the 3rd that it ranked 2nd in recognition in the pharmaceutical sector and 1st among pharmaceutical companies in the '2022 Korea Biohealth Industry (Manufacturing and Medical Services) Overseas Awareness Survey' conducted by the Korea Health Industry Development Institute.

Daewoong Pharmaceutical and the U.S. Additum Bio subsidiary technology export contract signing ceremony. From the left, Im In-taek, Director of Health and Medical Policy at the Ministry of Health and Welfare; Jeon Seung-ho, CEO of Daewoong Pharmaceutical; Mark Fishman, Co-founder of Additum Bio; Cha Soon-do, President of the Korea Health Industry Development Institute.
[Photo by Daewoong Pharmaceutical]

The overseas awareness survey conducted by the Korea Health Industry Development Institute has been carried out annually since 2021 to understand the brand power and international competitiveness of Korea's biohealth industry and to derive country-specific strategies for domestic companies' overseas expansion. This year marks the second survey, targeting 9,485 medical and industry experts as well as the general public in 19 major countries where Korean biohealth products are exported, including the United States, China, Japan, the United Kingdom, France, and Germany.

According to the survey results on recognition of specific companies, Samsung Biologics was found to have the highest recognition in the pharmaceutical sector. However, among domestic pharmaceutical companies that export their own products, Daewoong Pharmaceutical had the highest recognition. According to the survey, 34.2% of respondents recognized Daewoong Pharmaceutical. Following Daewoong Pharmaceutical were ▲Hanmi Pharmaceutical (33.8%) ▲GC Green Cross (31.7%) ▲Yuhan Corporation (26.0%).

The company explained that Daewoong Pharmaceutical's highest global recognition among domestic pharmaceutical companies is due to decades of focused investment in research and development (R&D) and expanding its overseas presence based on self-developed new drugs.

Daewoong’s self-developed botulinum toxin (BTX) 'Nabota' has obtained product approval in over 60 countries worldwide and signed export contracts with more than 80 countries. This year, the company plans to accelerate its overseas market expansion by increasing sales in major markets in North America and Europe and preparing for launches in China and Australia. The gastroesophageal reflux disease new drug 'Pexuclu' surpassed 41 billion KRW in domestic sales within one year of its launch and is accelerating overseas market expansion with a goal to enter 100 countries globally by 2027.

The sodium-glucose co-transporter (SGLT)-2 inhibitor class diabetes new drug 'Envlo' completed preparations for global market entry by signing export contracts with Brazil and Mexico in February. Daewoong Pharmaceutical plans to complete Envlo’s entry into 15 major countries including China, Brazil, and Saudi Arabia by 2025 and expand to about 50 countries worldwide by 2030.

New drug candidates Versiporosin and autoimmune disease treatment DWP213388 also signed technology export contracts in the first half of this year. Versiporosin, an idiopathic pulmonary fibrosis treatment designated as an FDA fast track development item, signed a technology export contract for the Greater China region with CSP Pharmaceuticals earlier this year. It is currently undergoing multinational Phase 2 clinical trials in Korea and the United States, aiming for approval and launch as a pulmonary fibrosis treatment in 2026.

The autoimmune disease treatment DWP213388 signed a global technology export contract with Vitali Bio, a subsidiary of the U.S. biotechnology investment company Additum Bio, at the 'Korea-U.S. Digital & Biohealth Business Forum' held in Boston during President Yoon Suk-yeol’s North America tour in April. The contract size, excluding royalty income, amounts to approximately 630 billion KRW.

Seungho Jeon, CEO of Daewoong Pharmaceutical, stated, "In the past, Korea’s pharmaceutical industry started by importing and selling foreign drugs domestically, but now many companies, including us, are actively attempting global expansion by focusing investment on R&D." He added, "Daewoong Pharmaceutical will continue to invest in R&D to achieve results such as global clinical trials and technology exports, and will strive to become a leading global healthcare company representing Korea."

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