[News Space=Reporter seungwon lee] Daewoong Pharmaceutical has solidified its position in the prescription market by exceeding KRW 1 trillion in outpatient prescription sales for two consecutive years.

Daewoong Pharmaceutical announced on the 12th that its outpatient prescription sales including its own products and co-promotion products last year amounted to KRW 1.332 trillion based on Ubiquitous data.

Innovative new drug development and co-promotion strategies have led to positive results in the outpatient prescription market. Led by the 34th domestic new drug, Pexuclu, and the 36th new drug, Enblo, and other proprietary products such as Urusa, have grown significantly, and the synergy between the digital healthcare business, which is targeted as a new growth engine, and therapeutic drugs has also been prominent.

In addition, even though the co-promotion contract for Posi, which was one of the main products in 2023, ended, the growth of major co-promotion items based on strong partnerships with partners such as Daiichi Sankyo and LG Chem played a role in making up for the gap in existing items.

◆ Establishing a foundation for sustainable growth through a differentiated ‘4-step verification strategy’

These achievements were possible because of Daewoong Pharmaceutical’s unique marketing strategy of ‘verification 4-step’. Daewoong Pharmaceutical is maximizing its market competitiveness and building a sustainable growth model through verification 4-step.

'Verification 4-step' is Daewoong Pharmaceutical's unique marketing strategy, which verifies evidence-based logic and marketing messages for customers in 4 steps. In order to establish a clear justification for doctors to prescribe and patients to take, a systematic process is carried out: ▲Message organization through in-depth learning ▲Message verification through internal and external expert advice ▲On-site verification for customers ▲Applying to marketing and sales to spread to the market.

In other words, we refine our messages through internal learning and external expert verification, test them directly in the field, and reflect customer feedback to complete the optimal marketing and sales model.

◆ Pexuclu and Enblo grow 47% and 261% respectively… Aggressive R&D investment also supports

Based on the verification 4-step strategy, Daewoong Pharmaceutical's Pexuclu and Enblo have achieved high growth. Pexuclu, which recorded the highest growth rate in outpatient prescription sales among all domestic prescription drugs by growing 315% in 2023, also recorded 78.8 billion won in outpatient prescription sales last year, growing 47% year-on-year.

Pexuclu is the 34th domestic new drug launched by Daewoong Pharmaceutical in 2022. It is receiving a positive response from the market as it improves the shortcomings of existing gastroesophageal reflux disease treatment PPI (proton pump inhibitor) drugs such as slow efficacy, short half-life, and low convenience of taking the drug.

In the case of Enblo Group (Enblo, Enblomet), it is also cruising along, having surpassed 10 billion won for the first time with 12.3 billion won last year. It has grown by 261% compared to the 3.4 billion won in outpatient prescriptions in 2023.

Enblo, the 36th domestic new drug developed by Daewoong Pharmaceutical, is gradually expanding its territory in the SGLT-2 inhibitor market by showing excellent blood sugar lowering effects even with a small dose (0.3 mg) compared to drugs of the same class. In the case of Urusa, it grew by 9% last year to KRW 63.2 billion in outpatient prescriptions. In addition to improving liver function and preventing gallstones in patients undergoing gastrectomy, it is attracting attention with research results on COVID-19 prevention and suppression of severe progression.

Daewoong Pharmaceutical has clearly established the value of its products by reflecting feedback from medical staff and patients from the clinical stage of new drugs through a 4-step verification strategy, and has established evidence-based marketing messages to continuously generate prescription justification. In addition, based on a proven successful model, it is accelerating the expansion of indications and overseas expansion, thereby strengthening its competitiveness in the market.

Daewoong Pharmaceutical has continued to invest in R&D for the development of blockbuster new drugs since the development of the first domestic biopharmaceutical, Easyef topical solution, in 2001. Starting in 2022, it will invest more than KRW 200 billion annually in R&D, and by the third quarter of 2023, it has invested KRW 171.3 billion, or 18.3% of its sales. The products Pexuclu and Enblo, which were created through this, have successfully settled into the market, and based on this, Daewoong Pharmaceutical is building a virtuous cycle structure that accelerates continuous R&D investment and new drug development.

◆ Establishing a standardized success model for new digital healthcare businesses by gathering opinions from the medical field

This verification strategy also shined in the new digital healthcare business. By actively reflecting feedback from medical staff and patients, and closely gathering the opinions of actual users from the beginning of the introduction of digital medical devices and deriving messages based on this, the completion of the new business was improved. Based on this, a standardized success model that can be effectively applied in the medical field is being built and spread.

Daewoong Pharmaceutical has identified the rapidly growing digital healthcare business as one of its future growth engines and is actively introducing digital healthcare devices in line with market changes. Representative examples include ▲Continuous blood glucose monitoring device ‘Freestyle Libre’ ▲Wearable electrocardiogram device ‘Mobicare’ ▲Ring-type continuous blood pressure monitoring device ‘CartBP’ ▲AI blindness diagnosis assistance solution ‘Whiskey’, etc.

Since last year, the synergy between digital healthcare devices and therapeutic drugs such as Mobicare, Lixiana, Freestyle Libre, and Enblo has also been fully realized, contributing to performance in the prescription market. Mobicare has achieved the No. 1 market share in the domestic wearable electrocardiogram market, and tests are being conducted in approximately 840 hospitals and clinics nationwide, while Cartvipi is being conducted in approximately 1,200 hospitals and clinics within 4 months of its release.

◆ Strengthening cooperation based on product reliability to promote co-promotion items

Daewoong Pharmaceutical has also achieved results by applying a systematic 4-step verification process to co-promotion items. In the process of establishing and operating partnerships with partners, the reliability and market competitiveness of products were objectively proven, and long-term collaborative relationships were established.

In addition, by verifying the clinical value and differentiation of the product in advance of co-promotion and establishing a marketing message that can be trusted by medical professionals and patients, we are laying the foundation for effective market entry. Through this, we are expanding collaboration with partners and accelerating market expansion centered on products with proven market suitability.

Based on solid partnerships with partners, co-promotion items also showed steady growth. Lixiana and Sevika group (Sevika, Sevika HC) co-promoted with Daiichi Sankyo grew 12% and 4% year-on-year, respectively, recording outpatient prescription sales of KRW 117.5 billion and KRW 110.9 billion. Zemiglo group (Zemiglo, Zemidapa, Zemimet) co-promoted with LG Chem also grew 6% year-on-year to outpatient prescription sales of KRW 152.5 billion.

The verification 4-step strategy is not a simple marketing technique, but a key element that maximizes the possibility of success through thorough market verification and customer-centered strategies. Daewoong Pharmaceutical plans to further enhance this, strengthen collaboration with external companies, and continuously expand new business and new drug development.

Lee Chang-jae, CEO of Daewoong Pharmaceutical, said, “Daewoong Pharmaceutical has recorded 1 trillion won in outpatient prescription sales for two consecutive years not only due to the development of new drugs, but also due to our differentiated market approach through the ‘4-step verification’ strategy.” He added, “We will strengthen R&D so that we can continue to grow based on the trust of medical professionals and patients, and lead innovation in the healthcare industry through new drugs, digital healthcare, and expansion into global markets.”