Yuyu Pharma said its urinary disorder treatment Yuhylyx Soft Capsule (dutasteride) has won approval from the food and drug administration of the Philippines and Myanmar and has completed product registration.

These are expected to boost the company's exports to the Southeast Asian pharmaceutical market, the company added.

The product name in the Philippines is ARMADART, and in Myanmar, it is Yuhylyx, the same as in Korea. Yuhylyx soft capsules are used for four indications: improving symptoms of benign prostatic hyperplasia, reducing the risk of acute urinary retention, and treating male pattern baldness in adult men.

According to the Korea Health Industry Development Institute's 2023 Global Pharmaceutical Bio Market Export Support Report, Southeast Asia is the fastest-growing pharmaceutical market globally, which analyzed strategies for entering the Southeast Asian pharmaceutical market. The average annual growth rate of the Southeast Asian pharmaceutical market from 2015 to 2019 is about 8 percent, of which the pharmaceutical market size of six major Southeast Asian countries, including the Philippines, is about $20 billion, according to Yuyu Pharma.

"As we await approval of various items, including anticoagulants in addition to Yuhylyx, in the Southeast Asian pharmaceutical market, which has great growth potential in the future, Yuyu Pharma's entry into overseas markets is expected to accelerate," said Yu Won-sang, CEO of Yuyu Pharma.