Daewoong Pharmaceutical introduced on Nov. 14 that it has signed export contracts price a complete of 33.7 billion gained with eight Latin American international locations together with Ecuador, Guatemala, and Costa Rica for its diabetes remedy drug Enblo. This brings the full variety of Latin American international locations to which Enblo is exported to 10.
The corporate said that this contract was signed along with current export contracts with Brazil and Mexico by cooperation with companion firm M8, bringing the full contract worth to 143.3 billion gained. An organization official evaluated this as “a big achievement in that Enblo’s provide growth to Latin America has materialized full-scale entry into the worldwide market.”
Latin America is the fastest-growing area within the world diabetes remedy market. In accordance with pharmaceutical market analysis agency IQVIA, the market dimension reached roughly 8.2 trillion gained as of 2024. The SGLT-2 inhibitor phase specifically has proven steep gross sales progress of roughly 100%, from 860 billion gained in 2022 to 1.85 trillion gained in 2024, attracting consideration as a next-generation progress driver.
Daewoong Pharmaceutical plans to steadily develop its entry into rising markets such because the Center East and Africa based mostly on its confirmed technological capabilities in Korea. Enblo is Korea’s thirty sixth new drug and the nation’s first SGLT-2 inhibitor-class diabetes remedy. SGLT-2 inhibitors work by suppressing the reabsorption of glucose and sodium within the kidneys and excreting them by urine, and are evaluated as a brand new remedy paradigm that exhibits enchancment results not solely in blood sugar management but in addition in blood strain, kidney, coronary heart, and weight administration.
Park Seong-su, CEO of Daewoong Pharmaceutical, stated, “This contract with eight Latin American international locations is a crucial turning level for Enblo to develop its place within the world market as a Korean new drug,” including, “We’ll develop our market entry to the Center East and Africa sooner or later to realize our objective of 1 trillion gained per product and strengthen our standing as a worldwide main pharmaceutical firm.”
