HK inno.N to release K-CAB in MENA market

South Korean bio-health company HK inno.N announced on Tuesday that it signed a contract with Saudi Arabian local pharmaceutical company Tabuk Pharmaceuticals for the export of its gastroesophageal reflux disease drug K-CAB tablet (ingredient name Tegoprazan) in the Middle East and North Africa (MENA) region.

Under the contract, Tabuk Pharmaceuticals will have exclusive distribution and sales rights for K-CAB.

Since its launch in 2019 in South Korea, K-CAB has been exported in technology transfer or finished products to 45 countries overseas.

The MENA region, centered around countries with high per-capita income, is expanding its pharmaceutical market size, indicating significant growth potential in the future, according to the company.

Tabuk Pharmaceuticals is a drug company with a strong presence in 17 MENA countries, with Saudi Arabia as its center.

K-CAB, South Korea's 30th new drug, is a P-CAB (potassium-competitive acid blocker) class gastroesophageal reflux disease treatment since its launch in 2019.

It has recorded over 553.6 billion won ($402 million) in cumulative prescription sales until March. 

Write to Young- Ae Lee at 0ae@hankyung.com