Daewoong Pharmaceutical Aims for 'KRW 1 Trillion New Drug Sales by 2030' Led by Pexuclue and Enblo

Vision Unveiled at Spain CPHI Site
"Accelerating Leap to Global Big Pharma with 3E Strategy"

Daewoong Pharmaceutical has unveiled its vision of achieving "10 trillion KRW in new drug sales by 2030," led by the gastroesophageal reflux disease treatment 'Pexuclu' and the diabetes treatment 'Enblo.' At the same time, it announced the '3E Global Super-Gap Strategy' to leap forward as a global big pharma.

At CPHI 2023 held in Barcelona, Spain, Kim Do-young, Head of the Global Business Division at Daewoong Pharmaceutical, is explaining the goal of achieving first product, first market with the country's first new drug, Fexuclue.
[Photo by Daewoong Pharmaceutical]

Daewoong Pharmaceutical announced on the 26th at 'CPHI Worldwide 2023 (CPHI),' the world's largest pharmaceutical and biotech exhibition held in Barcelona, Spain, that it simultaneously revealed its 3E Global Super-Gap Strategy for its self-developed new drugs and its vision to achieve 10 trillion KRW in global new drug sales.

Participating in CPHI for nine consecutive years and accelerating its global expansion, Daewoong Pharmaceutical presented a blueprint to achieve 10 trillion KRW in global sales by 2030, focusing on its self-developed new drugs such as Pexuclu and Enblo.

The 3E Global Super-Gap Strategy announced by Daewoong Pharmaceutical on this day is summarized into three key elements: ▲ Rapid global product approval (Efficiency) ▲ Simultaneous expansion of new drug lineups (Extension) ▲ Overwhelming production excellence of Korea’s only four-stage smart factory incorporating artificial intelligence (AI) (Excellence). Based on the 3E strategy, the company plans to become the number one pharmaceutical company in Korea and the first global big pharma from Korea.

Daewoong Pharmaceutical is accelerating its global expansion through a rapid global product approval strategy. It pursues global entry during the patent period by simultaneously conducting global product approvals and contracts at the new drug development stage. This strategy minimizes the gap between domestic and overseas launches before patent expiration, securing leadership in original new drugs. In fact, Pexuclu submitted product approval applications in 12 countries within one year of its domestic launch, received approvals in four countries within one year, and began full-scale global sales starting with the Philippines in July.

The company is also actively expanding its new drug lineup simultaneously. The strategy is to rapidly grow into blockbuster new drugs by expanding combination drug lineups and indications of self-developed new drugs simultaneously. Daewoong Pharmaceutical officially launched Enblo, Korea’s first sodium-glucose co-transporter (SGLT)-2 inhibitor class diabetes treatment, in May and obtained domestic approval for the two-drug combination 'Enblomet' (active ingredients Inavogliflozin and Metformin Hydrochloride) within a month. Enblomet is planned to be launched within this year, and Daewoong Pharmaceutical expects synergy with the single agent.

Pexuclu plans to expand its market through securing indications. Pexuclu is developing five indications: ▲ Gastritis ▲ Maintenance therapy after treatment of erosive gastroesophageal reflux disease ▲ Prevention of NSAIDs-induced ulcers ▲ H. pylori eradication (in combination with antibiotics) ▲ Treatment of NERD. The gastritis indication, targeted for the first half of next year, is an indication not secured by competing products and has already received approval for phase 3 clinical trials.

The company is also focusing on enhancing production excellence. Daewoong Pharmaceutical completed the Osong Smart Factory in 2017 and introduced AI. The smart factory integrates all production processes with ICT (Information and Communication Technology) to produce customized products for customers at minimal cost and time.

According to data from global market research firms, the worldwide gastroesophageal reflux disease market is approximately 21 trillion KRW, and the type 2 diabetes market reaches 93 trillion KRW. Daewoong Pharmaceutical explains that the potassium-competitive acid blocker (P-CAB) class, to which Pexuclu belongs, and the SGLT-2 inhibitor class, to which Enblo belongs, have high growth potential by replacing existing drugs.

Seungho Jeon, CEO of Daewoong Pharmaceutical, said, "Nabota, which has obtained approval from the U.S. Food and Drug Administration (FDA), and new drugs Pexuclu and Enblo are entering the global market at the fastest pace among all Korean new drugs through the 3E Global Super-Gap Strategy," adding, "We will achieve 10 trillion KRW in new drug sales by 2030 and leap forward as Korea’s number one pharmaceutical company and the first global big pharma from Korea."

Overview of the Daewoong Pharmaceutical booth at CPHI 2023 held in Barcelona, Spain.
[Photo by Daewoong Pharmaceutical]

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