HK inno.N said on the 15th that it secured the business rights in Japan for K-CAB, known as a "third-generation stomach medicine." K-CAB is the 30th domestically developed new drug in Korea and is considered to act quickly and be easy to take by suppressing gastric acid secretion. The company said K-CAB can now enter the Japanese market. The Japanese market for anti-peptic ulcer agents is about 2 trillion won.
HK inno.N acquired the business rights from the Japanese corporations RaQualia to develop, manufacture and sell K-CAB. HK inno.N transferred the K-CAB substance from RaQualia in 2010 and developed the stomach medicine. Since its domestic launch in Mar. 2019, K-CAB's cumulative prescriptions exceeded 900 billion won through Nov. this year.
HK inno.N is currently the No. 1 shareholder of RaQualia. With this third-party paid-in capital increase, it secured an additional 5.98% equity, bringing its total to 15.95%. Gwak Dal-won, CEO of HK inno.N, said, "We will work with RaQualia to enhance K-CAB's global competitiveness."