Global sales are expected to increase this year as the domestic new drug, ‘K-Cap’, a treatment for gastroesophageal reflux disease, starts full-fledged sales in China.
HK inno.N announced on the 3rd that its Chinese partner Luoxin held a large-scale launch event for the new gastroesophageal reflux disease K-cap tablet (ingredient name: tegoprazan) on the 28th of last month and started full-scale local sales.
It has been only 15 days since it received approval for an innovative new drug from the National Drug Administration (NMPA) of China on the 13th of last month. The Chinese product name of K-cap is ‘Taishin Salty’, which is derived from ‘Tae’ (泰, cleavage) of tegoprazan and ‘Shin’ and ‘Chan’ (salty) of Doul. It has the meaning of ‘helping enjoyment’.
According to the company, Luoxin aims to achieve annual sales of 1 billion yuan (about 200 billion won) of Taixin salt next year. In the mid- to long-term, it plans to develop it into a representative blockbuster product with annual sales of 3 billion yuan (about 600 billion won). HK Innoen’s total annual sales reached 750 billion won last year, and global sales are expected to increase significantly in the future. In particular, following tablets, the company plans to expand its formulation to injections, which occupy most of the Chinese peptic ulcer drug market.
With the launch of K-cap in China, technology fees and royalties will flow into HK Innoen in earnest from this year. Through this, HK Innoen’s global K-cap sales are also expected to expand in earnest.
Liu Jeon-tong, CEO of Luoxin, said, “We have high expectations for Taixin Salt to the extent that we have focused on accelerating the timeline, which normally takes several months after approval of the product to release the product.” said.
Kwak Dal-won, CEO of HK Innoen, said, “We plan to actively support Luoxin so that K-Cap can become a blockbuster drug in China. said