Shinpoong Pharmaceutical said its malaria treatment, Pyramax, is projected to reach 10 billion won ($7.1 million) in exports this year. The company has also been selected as the optimal supplier for malaria treatments under the U.S. President's Malaria Initiative (PMI), an endeavor by the U.S. to combat malaria globally.

Shinpoong will participate in PMI’s official procurement bid to supply the treatment starting in 2025.

The U.S. President's Malaria Initiative, launched in 2005, is an initiative led by the U.S. Agency for International Development (USAID) in collaboration with the Centers for Disease Control and Prevention (CDC). The initiative, guided by the U.S. Global Malaria Coordinator, oversees cooperation with various government departments and global organizations to support public procurement and supply of malaria treatments worldwide.

Malaria remains a significant public health concern, particularly in regions of Africa and Asia, where it affects an estimated 250 million people and causes approximately 620,000 deaths annually.

Increasing resistance to existing treatments has driven the need for new and effective therapies. Recognizing Pyramax’s efficacy, UNITAID recently endorsed the treatment—available in tablet and granule forms containing artesunate and pyronaridine phosphate—as an alternative in the fight against malaria.

Pyramax has already been included as a first-line treatment in the national malaria treatment guidelines of 11 African countries, including Nigeria, Guinea, the Democratic Republic of Congo, the Republic of Congo, Côte d’Ivoire, Niger, and Cameroon.

The company stressed that it is also exported for private markets in these countries, marking the first time a Korean-developed new drug has been officially listed as a first-line treatment in African nations.

“We expect Pyramax’s exports to reach 10 billion won this year, and with anticipated success in large-scale global procurement bids, we project even greater growth,” Shinpoong Pharmaceutical CEO Yoo Je-man said. “This achievement signifies a major step for a Korean-developed new drug in becoming a global standard treatment for malaria.”