LG Chem’s diabetes drug Zemiglo has hit a sales milestone of 6 billion won ($5.2 million) in May, signaling the success of a marketing contract it concluded with Daewoong Pharmaceuticals, according to Ubist Wednesday.
Zemiglo, the first home-grown diabetes drug, has seen a rapid increase in prescription after LG Chem signed a cooperative marketing contract with Daewoong Pharmaceuticals. LG signed the deal in January after seeing dismal sales under a marketing agreement with Sanofi, industry insiders say.
Zemiglo (ingredient: gemigliptin) has reached 70 billion won ($60.8 million) in sales since the contract signing, rising to the status of a blockbuster drug to compete with other good-selling drugs such as MSD’s Januvia tab and Novartis’ Galvus tab.
The dipeptidyl pepidase-4 (DPP-4) inhibitor for adults with type 2 diabetes is expected to succeed in the Asian market as a “customized drug to meet the diabetic characteristics found primarily in Asians,” according to Daewoong Pharmaceuticals. Researchers proved the safety and efficacy of the drug in clinical trials that sampled a mostly Korean population.
“Zemiglo has received domestic recognition from both medical professionals and diabetic patients for its convenience and superior effectiveness,” said Daewoong’s Zemiglo Product Manager Lee Hye-min. “Daewoong plans to raise the sales of the blockbuster drug to over 100 billion won through our powerful marketing and sales capabilities.”
Daewoong also had regained its position in the sector following its breakup with MSD Korea when the latter passed its sales rights of its Januvia tab to Chong Kun Dang Pharmaceuticals, according to industry experts.
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