HK inno.N's K-Cab Expands into the Oceania Market
Signs Export Agreement with Australian Pharmaceutical Company
On the 6th, HK inno.N announced that it has signed a finished product export agreement for K-Cab tablets (ingredient: Tegoprazan) with Australian pharmaceutical company Southern Xpi for both the Australian and New Zealand markets.
Under this agreement, Southern Xpi will have exclusive distribution and sales rights for K-Cab. The two products involved are K-Cab 50mg and K-Cab 25mg.
Southern Xpi is an Australian pharmaceutical company with over 20 years of experience in the pharmaceutical industry. It is particularly strong in the registration and distribution of pharmaceuticals in Australia and New Zealand. The pharmaceutical market in Australia and New Zealand was valued at approximately 22 trillion KRW (around 17 billion USD) as of last year, with the market for peptic ulcer medications accounting for about 150 billion KRW (around 116 million USD).
Kwak Dal-won, CEO of HK inno.N, stated, "K-Cab is increasingly gaining recognition as a valuable South Korean new drug in overseas markets and is steadily expanding its influence in the global peptic ulcer treatment market. We aim to strengthen K-Cab's global competitiveness with a goal of entering 100 countries by 2028."
K-Cab, South Korea's 30th new drug, is a P-CAB (potassium-competitive acid blocker) for treating GERD. It is characterized by its rapid onset of action within one hour of ingestion and its proven efficacy and safety even with long-term use of up to six months. K-Cab has expanded into 48 countries worldwide, including South Korea, the United States, and China, and has been launched in 15 countries.