Bukwang Pharm has signed an exclusive export agreement with Pacific Healthcare for Dexid tablets, a treatment for diabetic polyneuropathy, in Thailand, the company said Aug. 4.
The agreement was signed at Pacific Healthcare’s headquarters in Bangkok. Dexid contains thioctic acid tromethamine, also known as alpha-lipoic acid.
Diabetic polyneuropathy is a common complication of diabetes in which prolonged high blood sugar damages peripheral nerves. Symptoms typically include numbness and pain in the hands and feet, reduced sensation and a burning sensation. In severe cases, it can also increase the risk of difficulty walking and foot ulcers.
Under the agreement, Pacific Healthcare will be responsible for regulatory approval, marketing and distribution of Dexid in Thailand. Bukwang Pharm will supply the product and provide support for local regulatory approval as it moves to enter the Thai market in earnest.
Pacific Healthcare is a Thai healthcare company established in 1961. It operates businesses spanning pharmaceuticals, medical devices and consumer healthcare. The company has established sales and distribution networks across Thailand and maintains partnerships with various global pharmaceutical companies.
Dexid is an improved drug formulation of an alpha-lipoic acid product launched by Bukwang Pharm in 2014. It is a prescription drug used to treat diabetic polyneuropathy and is recommended as a pathogenetic treatment in diabetes treatment guidelines in South Korea and other countries.
The drug is currently sold in South Korea, Cambodia and the Philippines, while regulatory approval is underway in Vietnam. With the agreement, Bukwang Pharm will enter the Thai market and further strengthen its presence in Southeast Asia.
“Recognized as one of Bukwang Pharm’s flagship prescription drugs, Dexid has consistently recorded strong prescription performance in the domestic market,” Bukwang Pharm CEO Lee Je-young said. “We plan to accelerate our expansion into overseas markets following this agreement.”