Daewon 'Pellubi' Expanding into Indonesia
Daewon Pharmaceutical announced on the 25th that its non-steroidal anti-inflammatory drug (NSAID) ‘Pelubi Sustained-Release Tablets’ will enter the Indonesian market.
Daewon Pharmaceutical signed an exclusive export supply contract for finished products of Pelubi Sustained-Release Tablets (local product name ‘Pelubi CR Tablet’) with its local Indonesian partner, PT Interbat. The contract is valued at a total of 3 million USD (approximately 4 billion KRW) and spans five years.
Pelubi Sustained-Release Tablets were launched in 2015 as an improved version of ‘Pelubi Tablets,’ the 12th domestic new drug developed in Korea, enhancing ease of administration. Initially introduced as an anti-inflammatory analgesic, it has expanded its indications to include post-traumatic pain, primary dysmenorrhea, and more, broadening its prescription scope from chronic pain to acute pain. As a result, the Pelubi series has grown into a mega-brand product with annual sales of about 40 billion KRW and has achieved the number one prescription volume in the NSAIDs category.
Indonesia ranks as the 4th most populous country in the world and is considered a country with high demand for pharmaceuticals in Asia. It accounts for about 27% of the total ASEAN market size. The overall pharmaceutical market size reached 3 billion USD (approximately 4 trillion KRW) as of 2021.
Following its entry into the Russian market last year, Pelubi is preparing to enter markets such as the Philippines, Mexico, and Vietnam in the second half of this year.
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Baek In-hwan, CEO of Daewon Pharmaceutical, stated, “Since Pelubi is classified as a new drug even in Indonesia, this export is significant in promoting domestic new drugs overseas. We expect that exports to Indonesia, the 4th most populous country, will greatly contribute to expanding sales channels in Asia and the global market in the future.”
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