Daewon Pharmaceutical said Monday the company has signed a contract with PT Interbat, an Indonesian pharmaceutical company, for the exclusive export and supply of finished products of non-steroidal anti-inflammatory drugs (NSAIDs), Pelubi SR Tab (pelubiprofen).

The contract's total value is $3 million, and the contract period is five years.

Pelubi SR Tab improves the convenience of taking Pelubi Tab., the 12th homegrown new drug developed by Daewon Pharm. The company launched it in 2015. After winning approval as an anti-inflammatory analgesic, it added indications, such as post-traumatic pain and primary dysmenorrhea.

Daewon obtained marketing authorization for Pelubi in Russia in 2022 through local clinical trials.

Daewon said it has new export contracts with the Philippines and Mexico and is awaiting the completion of product registration in Vietnam. In addition, the company plans to speed up its overseas expansion, focusing on Eurasian Economic Union (EAEU) countries, including Russia and Kazakhstan, Central and South America, and Southeast Asia.

"Pelubi is classified as a new drug in Indonesia, so this export is significant in promoting Korean new drugs overseas," Daewon Pharmaceutical CEO Baek In-hwan said. "We expect that exports to Indonesia, the fourth most populous country in the world, will contribute significantly to expanding sales in the Asian and global markets."