Korea Business News Agency - NSP NEWS AGENCY.

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(Seoul=NSP NEWS) = Daewoong Pharmaceutical announced that it has signed a contract to export its diabetes treatment Envlo Tab(Enavogliflozin) to eight Central and South American countries. The contract is worth approximately KRW 33.7 billion, bringing the total value, including existing contracts, to approximately KRW 143.3 billion.

According to Daewoong Pharmaceutical, in cooperation with its partner M8 (Moksha8), the company has expanded its supply scope to 10 countries in Central and South America by signing additional export contracts for Envlo Tab with 8 countries, including Ecuador, Costa Rica, Guatemala, Nicaragua, Honduras, Panama, Dominican Republic, and El Salvador, in addition to the existing Brazil and Mexico.

Envlo Tab is the 36th new drug developed using domestic technology and is the first diabetes treatment in the SGLT-2 inhibitor class. SGLT-2 inhibitors work by inhibiting the reabsorption of glucose and sodium in the kidneys, thereby excreting them in the urine.

Park Sung-soo, CEO of Daewoong Pharmaceutical, said, “This contract with eight Central and South American countries is a turning point for Envlo Tab to expand its position in the global market as a domestically produced new drug,” and added, “We will expand our expansion into the Middle East and Africa in the future.”

By Soon-ki Lee(s8789@nspna.com) and Songyi Jeong(qu225577@nspna.com)

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