'Kanarb proves competitive in Mexico'

By Jung Min-ho

Choi Tae-hong Boryung Pharmaceutical president

Kanarb, the first high blood pressure drug developed in Korea, has proved to be competitive in the Mexican market, Boryung Pharmaceutical President Choi Tae-hong said.

“There were doubts about whether a Korea-developed drug would ever be able to succeed in markets abroad,” he said during a press conference in Seoul, Wednesday. “Kanarb dispelled such doubts in Mexico.”

Citing Mexico’s weekly market data, Choi said Kabarb was the most prescribed medication by cardiovascular specialists from Aug. 29 to Sept. 4, taking up 18.8 percent of the prescriptions for high blood pressure.

“Its monthly prescription rate by the specialists reached 10.2 percent in July and then 10.7 percent the following month,” Choi said. “We expect the number to continue to rise.”

What cardiovascular specialists prescribe for their patients is one of the most important indications of a drug’s growth potential, he said.

“They are the opinion leaders that lead the trend,” Choi said. “The data demonstrates that they trust the effectiveness and safety of Kanarb.

“It was achieved despite competition with global pharmaceutical companies. This means a lot.”

Kanarb ― a blockbuster drug launched after 12 years of research and development and 50 billion won ($45 million) in investment ― has been sold in Mexico since September of last year.

The company believes the drug’s success in the country is critical in order to make inroads into other South American nations and beyond.

The size of the Mexican market for high blood pressure drugs is believed to be about $550 million. “But, other than its big growth potential, by getting approvals from cardiovascular specialists in Mexico, we also receive credit for Kanarb’s effectiveness and safety,” a Boryung representative said.

In fact, the company aims to get sales approvals from five more countries in the region ― Ecuador, Honduras, Costa Rica, El Salvador and Panama ― by the end of next year.

Brazil, which has the biggest high blood pressure drug market in South America, is probably the next. If everything goes well, the company believes that it will be allowed to sell the drug in the country from 2018.

Russia, Japan, Germany and the United States are the next targets on which Boryung is working.

Among the 24 drugs originally developed by Korean companies, Kanarb is the most popular here and abroad.

Its domestic sales revenue spiked to 40 billion won last year from 10 billion won in 2011, while its exports jumped to $76 million from $30 million during the same period. For the first six months of this year, the figure has already surpassed $129 million.