2024-04-01 13:32:20
Targeting the gastroesophageal reflux disease treatment market
Both companies share know-how for successful launch of P-CAB formulation
“Our goal is to be No. 1 in the gastroesophageal reflux disease treatment market within the year.”
Daewoong Fexuclor to be released in 2022, cumulative prescriptions amount to KRW 77.6 billion
Daewoong Pharmaceutical and Chong Kun Dang are establishing a joint sales front for Korea’s 34th new drug, Fexuclu.
Daewoong Pharmaceutical announced on the 1st that it will jointly sell Chong Kun Dang’s P-CAB series gastroesophageal reflux disease treatment ‘Fexuclu’. This was promoted to maximize synergy by combining sales and marketing capabilities of both companies. In particular, Daewoong Pharmaceutical plans to develop Fexuclu into a ‘1 trillion per piece’ product through this strategic partnership. The 1 product, 1 trillion vision is a strategy to achieve 1 trillion won in sales with one product.
Fexuclu is a domestically produced new drug released by Daewoong Pharmaceutical in July 2022. As of last February, the cumulative prescription amount was KRW 77.6 billion, making it a domestic blockbuster in a short period of time. In the second year of its launch, it ranked second in the gastroesophageal reflux disease treatment market. This achievement was achieved with just one indication for the treatment of erosive gastroesophageal reflux disease. This year, we expect performance to grow significantly again with the expansion of coverage for gastritis indications and the full-scale joint sales of Chong Kun Dang.
According to pharmaceutical statistics information UBIST, as of the fourth quarter of last year, the total amount of domestic P-CAB and PPI prescriptions prescribed was 239.2 billion won. Of these, P-CAB amounted to 61.9 billion won, accounting for 25.9% of the total. This is a significant growth in four years since the first quarter of 2019 (1.6%). Starting with this collaboration with Chong Kun Dang, Daewoong Pharmaceutical plans to achieve annual domestic sales of KRW 300 billion by 2030 and increase its share of the P-CAB group to drive overall growth.
The industry believes that the cooperation between two large domestic pharmaceutical companies will go beyond expanding Fexuclu’s market share and become a catalyst for change in leadership in the gastroesophageal reflux disease treatment market. In the Japanese market, the market structure for gastroesophageal reflux disease treatment is being reorganized following the launch of P-CAB. P-CAB’s market share increased from 9% in 2016 to 33% in 4 years (as of 2020, according to research by research firm BCC Research). It is predicted that the P-CAB market share will reach 44% in 2030, and that P-CAB will replace the existing PPI.
Fexuclu is characterized by dramatically improving the slow onset of efficacy, short half-life of less than 2 hours, dietary effects, and drug interactions, which were pointed out as disadvantages of existing PPI preparations. In particular, Fexuclu’s half-life is 9 hours, which is the longest among gastroesophageal reflux disease treatments, including the P-CAB series. It is said that the effect lasts for a long time and significantly alleviates heartburn symptoms.
Lee Chang-jae, CEO of Daewoong Pharmaceutical, said, “Both companies will spare no efforts to bring patients closer to effective treatment options by leveraging our experience in successfully launching the new drug Fexuclu,” adding, “This collaboration is an exemplary example of mutual growth within the industry.” “We will use it as a stepping stone to realize 1 Pexuclu, 1 trillion won,” he said.
Kim Young-joo, CEO of Chong Kun Dang, said, “Chong Kun Dang has already had experience in successfully launching P-CAB products into the market and growing them into blockbuster drugs,” adding, “The abundant know-how accumulated in the P-CAB market and the strong sales and marketing capabilities of both companies create synergy.” “We will do our best to lead the domestic gastroesophageal reflux disease treatment market.”
Kim Min-beom, Donga.com reporter [email protected]
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2024-04-01 13:32:20