On February 26, the Korea Drug Research Association (KDRA) held its 17th annual awarding ceremony for new drug developers in Korea in Seoul.
At the ceremony, Dong-A ST won half of the top prize with its oral diabetes drug Suganon Tab. Techniques applied to this drug have been exported to more than 20 countries to date and it is expected to create at least 1.3 trillion won in economic value across the world for 10 years to come. CrystalGenomics won the other half with its osteoarthritis drug Acelex, with which the company is planning to take up at least 5% of the global osteoarthritis drug market worth 500 billion won or so within three years.
Daewon Pharmaceutical Company was awarded the top R&D prize. The company is aiming to increase its presence in the non-steroid anti-inflammatory drug market by means of its Pelubiprofen. The domestic market reached 303.9 billion won in size in 2014 and the Pelubiprofen showed an annual average growth of 25% for the past five years.
At the same time, Boryung Pharm, CKD Pharm and CJ Healthcare were named as the exporters of the year with their Kanarb for hypertension treatment, CKD-11101 for anemia treatment and CJ-12420 for gastric acid secretion suppression, respectively. The Kanarb was released in Korea five years ago and recorded 32.7 billion won in domestic sales until last year. In addition, Boryung Pharm signed technology export agreements with Latin American countries, China and Russia in 2011 and Southeast Asian countries in 2015 with regard to the drug while dominating the Mexican hypertension drug market with it. The drug is scheduled to be tested in and exported to Europe and Japan this year, too.
The CKD-11101’s quality has been proven to be equal to that of the original drug of the same kind and the former is currently in a phase 3 clinical trial. An export agreement has already been concluded with Fuji Pharma and the drug is to be released in Japan, Europe and many more. Techniques of the CJ-12420 were exported to Luoxin, a Chinese pharmaceutical company, in October last year ahead of the other similar contracts the company is working on now. The sizes of the domestic and Chinese markets are estimated at 300 billion won and two trillion won, respectively.