Korea approves Daewoong Pharmaceutical's diabetes drug

Korea Economic Daily LogoKorea Economic Daily2 mo ago

Korea approves Daewoong Pharmaceutical's diabetes drug - Korea Economic Daily

Quick Summary:

DAEWOONG PHARMACEUTICAL has received domestic approval for its diabetes drug Envlo with the active ingredient enavogliflozin, the second straight year for the company to release a self-developed medication following last year's Fexuclue, which treats gastroesophageal reflux with the active ingredient Fexuprazan.

CEO Lee Chang-jae said, "The independent development of Korea's first drug using an SGLT2 inhibitor, the most notable diabetes treatment on the global market, is a significant achievement," adding, "We will seek to raise the quality of life of diabetic patients at home and abroad by providing the best new diabetes drugs to them".

Daewoong Pharmaceutical said the global market for diabetes treatment using SGLT2 inhibitors last year was worth about 27 trillion won ($20.7 billion), with the Korean market alone valued at 150 billion won.

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Article Details

Category: Economy



Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-02 @ 11:08:02 (2 months ago)

News Timezone: GMT +8:00

Ranking: #334 (out of 6603 stories this day)

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Language: English

Article Length: 336 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 2156125

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