Bukwang launches DEXID, a self-developed IMD, in four Southeast Asian countries, including Philippines, Vietnam, etc.
In 2016, Bukwang entered into an agreement with Kalbe International, an Indonesian pharmaceutical company, in attempt to export DEXID to six Southeast Asian countries.
In December 2017, Bukwang received regulatory approval in Philippines, and Bukwang plans to complete the filings for approvals in Vietnam, Myanmar, Cambodia in 2018.
‘DEXID tab’ is a treatment for diabetic neuropathy developed by Bukwang and released in Korea in 2014. It has separated only the main active ingredient of the existing thioctic acid drug, while maintaining its efficacy and improving safety as well as administrative convenience.
As DEXID, the treatment for diabetic neuropathy which is one of the most common complications of diabetes, will be launched in Southeast Asian countries starting the second half of 2018, Bukwang will develop and implement a localized marketing strategy for each country.
After the product is launched in the first half of 2019, the export sales is expected be over $15M for the next five years.
Bukwang has THIOCTACID and DEXID and is a leader in the diabetic neuropathy market. With those products, Bukwang has achieved approximately 26B KRW outpatient prescription (UBIST standard) in 2017 in Korea.