Daewoong Pharmaceutical's Fexuprazan takes its first step into Africa Entering into a partnership with Cooper Pharma, the No. 1 pharmaceutical company in Morocco in the field of digestive health

Cooper Pharma, founded in 1933, has rapidly expanded its businesses in the pharmaceutical industry, keeping its number one ranking position in Morocco's PPI market, which was estimated to be around KRW75.5 billion in revenue last year. Daewoong intends to propose a new innovative solution to GERD drugs building on Cooper Pharma's significant market dominance and network. Cooper Pharma, founded in 1933, has rapidly expanded its businesses in the pharmaceutical industry, keeping its number one...

Cooper Pharma, founded in 1933, has rapidly expanded its businesses in the pharmaceutical industry, keeping its number one ranking position in Morocco's PPI market, which was estimated to be around KRW75.5 billion in revenue last year. Daewoong intends to propose a new innovative solution to GERD drugs building on Cooper Pharma's significant market dominance and network.

By entering into this Agreement, Daewoong Pharmaceutical plans to expand its presence of P-CAB drug Fexuprazan in the African pharmaceutical market for gastroesophageal reflux disease (GERD). Fexuprazan, in particular, features fast and stable suppression of gastric acid regardless of food intake and the longest half-life of 9 hours among P-CABs, meaning that the treatment has a longer duration action than other drugs.

Jeon Seng-ho, CEO of Daewoong Pharmaceutical, said, "It is inspiring that we have entered the African market in just less than a year after its launch in Korea, in the global market for treating gastroesophageal reflux diseases" adding, "We will continue to show the strength of Fexuprazan and make it grow into a global blockbuster."

Forward-Looking Statements

This press release contains forward-looking statements that are based on the current beliefs and expectations of Daewoong Pharmaceutical's management. Factors that could cause or contribute to such differences include, but are not limited to: (1) Regulatory and governmental approvals: The approval process for pharmaceutical products is subject to extensive regulations and may involve uncertainties and delays. Any failure to obtain necessary approvals or the occurrence of delays in the approval process could adversely affect Daewoong Pharmaceutical's business and results of operations; and (2) Clinical trials: The success of Daewoong Pharmaceutical's products depends on the results of clinical trials. The results of early clinical trials may not be indicative of the results of later-stage or larger-scale clinical trials.

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