Tabuk Pharmaceutical Manufacturing Company (a fully owned subsidiary of Astra Industrial Group), a leading Saudi pharmaceuticals company, announced today an exclusive license agreement with HK inno.N a leading Korean pharmaceuticals company to commercialize K-CAB® (Tegoprazan), a novel potassium-competitive acid blocker (P-CAB) which is regarded as the next-generation for the treatment of gastroesophageal reflux disease (GERD) and other acid-related conditions in Middle East region.
Under the agreement, Tabuk has the exclusive rights for commercialization and marketing of K-CAB® (Tegoprazan) in the Middle East and North Africa. K-CAB® (Tegoprazan) has also been licensed out to 35 countries including the US and K-CAB to be the first potential Korean global blockbuster drug in the pharmaceutical industry with ongoing Phase 3 clinical trials in the US advancing at a timely rate.
Since its launch in 2019, K-CAB® (Tegoprazan) is considered Korea’s 30th new drug and has been ranked the No.1 gastroesophageal reflux disease drug for 4 consecutive years in the Korean market.
Kwak Dal-won, CEO of HK inno.N, said, “Through this expansion into the MENA region, K-CAB® has established footprints in the pharma emerging markets of Southeast Asia, Central and South America, the Middle East, and North Africa.”
Song Geun-seok, Vice president of HK inno.N also said, “We will accelerate our global business to enter 100 countries by 2028 and achieve global sales of 2 trillion won by 2030.”
“As part of our role and mission in Tabuk to deliver unique health solutions to people of Saudi Arabia and remaining MENA countries our partnership with HK inno.N comes in as an evident choice to further support our mission in line with Saudi vision 2030 regarding innovation,” said Ismail Shehada CEO of Tabuk.
Wisam Alkhatib, Chief Business Development Officer at Tabuk: “This partnership builds on our strategy to expand our specialty and innovative business and reinforces our leading position in the gastrointestinal market with this new class of medicine”.
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