HK inno.N's K-CAB tablets win sale approval in Mexico

K-CAB tablets, a gastroesophageal reflux disease treatment developed by HK inno.N [HK INNO.N]

HK inno.N's K-CAB tablets, a gastroesophageal reflux disease treatment, won sale approval from health regulators in Mexico.

Mexico is the second-largest pharmaceutical market in Latin America after Brazil. HK inno.N inked a technology transfer deal with Eurofarma last month to give the Brazil-based company exclusive rights to develop and sell K-CAB in Brazil for 10 years.

It will be sold under the name KI-CAB in Mexico.

Mexico is the 36th foreign country to have the treatment. HK inno.N has been awaiting approvals from a total of 26 countries, including Vietnam.

Demand for treatments for metabolic diseases is high in Mexico as the obesity rate in the country is around 72 percent.

Mexico's gastroesophageal reflux treatment market was valued at some $10.6 billion in 2019, the 15th largest in the world.

"With the green light from Mexico, we will spread out the value of Korean-made treatment in Latin American countries," said Kwak Dal-won, CEO of HK inno.N.

It aims to export K-CAB tablets to a total of 100 countries by the end of 2028.

K-CAB tablets generated 125.2 billion won ($98 million) in sales alone last year.

BY SARAH CHEA [chea.sarah@joongang.co.kr]