Daewoong Pharmaceutical’s prescription drug sales have increased significantly this year.
In April, Daewoong’s revenue from prescription drugs topped 70 billion won ($55.69 million).
Cumulative sales in the first four months of 2022 registered 267.5 billion won, up 14.3 percent from the same period last year.
Excluding sales of Nexium, a treatment for gastroesophageal reflux, for which AstraZeneca’s co-promotion ended in December last year, cumulative sales between January and April increased by 22 % year-on-year. This showed that the company’s prescription drug sales were growing rapidly.
A Daewoong official attributed the growth in prescription drug sales to the continued expansion of existing blockbusters, growth in in-house manufactured items and the company’s leadership in “data-driven drugs.”
Daewoong maintains successful partnerships with various local and foreign companies to steadily increase the sales of conventional blockbuster drugs. The company also sells internally produced products such as digestive drugs Nexierd and Axid and endocrine agents like Crezet and Litorvazet.
For the first time in the local pharmaceutical industry, Daewoong introduced wearable devices such as FreeStyle Libre, a continuous blood glucose meter, and MobiCARE, an electrocardiogram monitor. The company also launched Well Check, an app to monitor chronic diseases, leading to data-driven medical trends.
In the second half of this year, the company plans to roll out Fexclu (fexuprazan hydrochloride), a drug for GERD. The treatment is the country’s 34th new drug. The introduction of Fexclu should boost sales of Daewoong’s prescription drugs.
As Fexclu improved symptoms faster than existing proton pump inhibitor (PPI) treatments and Daewoong has extensive experience in sales and marketing, Daewoong could secure a larger market share. immediately after Fexclu’s release, industry watchers said.