Korean drugmaker eyes $155m market in Southeast Asian country
Daewoong Pharmaceutical said Friday that its self-developed gastroesophageal reflux disease, or GERD, drug Fexuclu has secured approval in Indonesia, marking a key step in its push into Southeast Asia’s fast-growing pharmaceutical market.
The company said it plans to rapidly expand Fexuclu’s prescription base in Indonesia amid growing demand for more effective and convenient treatment options.
According to the Korean drug maker, Fexuclu, a potassium-competitive acid blocker, or P-CAB, enables faster and more consistent acid suppression to deliver quick releif of symptoms while maintaining longer-lasting effects. In Japan, P-CABs now account for over 60 percent of GERD prescriptions, while the figure reached roughly 35 percent in Korea last year.
Fexuclu has expanded into 30 countries to date, securing approvals in 16 including Korea, Indonesia, China, Mexico and India and has already been launched in six markets. With a China launch on the horizon, the company said it expects the Indonesia approval to serve as a springboard for broader global expansion.
“Securing approval in Indonesia, a key reference country in Southeast Asia, represents a major milestone for Fexuclu’s global journey,” said Daewoong Pharmaceutical co-CEO Park Seong-soo. “Building on our accumulated regulatory experience and differentiated clinical data, we will continue to accelerate global expansion of Fexuclu.”
According to IQVIA, Indonesia’s market for drugs to treat conditions such as GERD and stomach ulcers reached $154.95 million in 2024 and is projected to grow at an annual rate of around 6 percent, driven by dietary westernization and rising disease awareness.
hwkan@heraldcorp.com
