Daewoong Pharmaceutical said on the 24th that its type 2 diabetes treatment Envlo received marketing authorization from Indonesia's National Agency of Drug and Food Control (BPOM). Type 2 diabetes is a disease in which insulin is secreted but blood sugar is not properly controlled. It is mainly caused by obesity and heredity and accounts for 90% of all diabetes patients.
According to the International Diabetes Federation, Indonesia had 20.4 million adult diabetes patients last year. This year's diabetes treatment market is expected to be $380 million (555 billion won). The company is preparing to launch the product in major Southeast Asian countries where it has already obtained marketing authorization, including the Philippines and Thailand, as well as Indonesia.
Envlo is the 36th domestically developed new drug. Park Seong-su, CEO of Daewoong Pharmaceutical, said, "The goal is to enter 30 countries by 2030," adding, "We will secure global approvals and provide a treatment option to diabetes patients worldwide."