HK inno.N's GERD drug enters Australian and New Zealand markets

HK inno.N's drug for gastroesophageal reflux disease (GERD), K-CAB (ingredient: tegoprazan), is entering the Australian and New Zealand markets.

The company said Monday that it has signed an export contract with Australian pharmaceutical company Southern XP, granting the company exclusive distribution and sales rights for K-CAB in both countries.

The products, K-CAB 50mg and K-CAB 25mg, will be available under this agreement.

Southern XP, with over 20 years of experience in the industry, specializes in the registration and distribution of pharmaceuticals in Australia and New Zealand. The pharmaceutical markets in these countries are valued at approximately 22 trillion won ($15 billion) as of 2023, with the market for peptic ulcer drugs totaling about 150 billion won.

“Through K-CAB, the value of a Korean drug is being recognized internationally, and we are steadily expanding our influence in the global peptic ulcer drug market,” said Kwak Dal-won, CEO of HK inno.N. “Our goal is to strengthen K-CAB’s global competitiveness and enter 100 countries by 2028.”

K-CAB, Korea's 30th new drug, is a P-CAB-class treatment for GERD. It is known for its rapid effect within one hour of intake and its ability to dissolve quickly in the mouth without the need for swallowing. It also maintains efficacy and safety for up to six months with long-term use.

K-CAB has been introduced in 48 countries worldwide, including Korea, the United States, and China. In Korea,  it has maintained the top position in the domestic peptic ulcer drug market for five consecutive years, with off-prescription sales reaching 177.7 billion won from January to November 2024, according to HK inno.N.