Daewoong Pharmaceutical announced on the 2nd that its domestically developed diabetes treatment ‘Enavogliflozin’ (brand name: Enblo) will enter the Middle East and Africa (MENA) market through a supply agreement worth approximately $1.45 billion, marking the largest global deal for the drug to date.
The company signed the agreement with global pharmaceutical firm Acino Pharma AG to supply Enblo across eight MENA countries, including Saudi Arabia, the United Arab Emirates (UAE), Qatar, Kuwait, Oman, Bahrain, Iraq, and Egypt.
The contract value, including milestone payments, is estimated at around $1.45 billion. Daewoong plans to pursue regulatory approval in Saudi Arabia this year, with phased product launches expected to begin in the first half of 2027.
This deal represents the largest single export agreement since Enblo’s global commercialization and, according to the company, the first case of a domestically developed SGLT-2 inhibitor entering the MENA region.
Daewoong targeted the MENA region due to its high prevalence of diabetes. According to the International Diabetes Federation (IDF), approximately one in six adults in the region is living with diabetes.
Based on IQVIA data, the diabetes treatment market in four countries—Saudi Arabia, UAE, Kuwait, and Egypt—was valued at approximately $2.5 billion last year. Including Qatar, Oman, Bahrain, and Iraq, the total market size is expected to be significantly larger.
Acino Pharma is part of the Aresela Life Sciences Group, a global healthcare company established by Abu Dhabi’s sovereign wealth fund ADQ. The company operates strong sales and distribution networks across cardiometabolic therapies in the MENA region.
Enblo is an SGLT-2 inhibitor for type 2 diabetes that lowers blood glucose by blocking renal glucose reabsorption.
SGLT-2 is a protein in the kidneys responsible for reabsorbing glucose back into the bloodstream. SGLT-2 inhibitors reduce blood sugar by blocking this mechanism, causing glucose to be excreted through urine.
Daewoong stated that Enblo demonstrated glucose-lowering efficacy at a low dose of 0.3 mg—approximately one-thirtieth of typical global competitors—and has clinical data suggesting potential renal and cardiovascular protective effects, even in patients with impaired kidney function.
Daewoong CEO Park Seong-soo said, “This agreement represents the largest global export deal for Enblo and the first entry of a domestically developed SGLT-2 inhibitor into the MENA region,” adding, “We will work with our local partner to develop Enblo into a global blockbuster drug.”