South Korean drug maker Daewoong Pharmaceutical said Tuesday that it launched its gastroesophageal reflux disease, or GERD, treatment Fexuclue in Mexico, Ecuador and Chile.

According to pharmaceutical market research firm IQVIA, the market for antiulcer drugs in these three countries was valued at $300 million last year.

Fexuclue, a potassium-competitive acid blocker developed independently by Daewoong Pharmaceutical over 13 years beginning in 2008, was introduced to the market in July 2022.

The company states that Fexuclue improves the shortcomings of traditional proton pump inhibitor drugs, such as delayed efficacy and dietary restrictions, by providing rapid and consistent acid suppression.

Fexuclue's extended half-life of nine hours makes it particularly effective for alleviating nighttime heartburn, and it can be taken at any time, regardless of food intake.

Ahead of its launch in Latin America, Daewoong Pharmaceutical hosted symposiums in Mexico, Ecuador and Chile in June and July to present Fexuclue's benefits to local medical professionals.

With this launch, Fexuclue is now available in five countries, including South Korea and the Philippines.

Currently, Fexuclue is either available or preparing to enter the market in 30 countries. Marketing authorization applications have been submitted in 11 countries, including China, Brazil and Saudi Arabia, and export agreements have been reached with 14 countries, including India and the United Arab Emirates.

"It is significant that Fexuclue is recognized as a next-generation GERD treatment by Latin American medical professionals. We will expedite the approval process to quickly integrate Fexuclue into local health care systems and aim to enter 100 countries by 2027," said Park Seong-soo, CEO of Daewoong Pharmaceutical.