Lee Je-young (left), CEO of Bukwang Pharmaceutical, and Patrick Brulmann, CEO of Pacific Healthcare, pose for a photo after signing the Dexid export contract for Thailand. [Bukwang Pharmaceutical]
Lee Je-young (left), CEO of Bukwang Pharmaceutical, and Patrick Brulmann, CEO of Pacific Healthcare, pose for a photo after signing the Dexid export contract for Thailand. [Bukwang Pharmaceutical]

Bukwang Pharmaceutical said Tuesday it has signed an exclusive export agreement with Thailand's Pacific Healthcare for Dexid (generic name: thioctic acid trometamol salt), its prescription treatment for diabetic polyneuropathy, at Pacific Healthcare's headquarters in Bangkok.

Under the deal, Pacific Healthcare will handle regulatory approval, marketing and retail distribution of Dexid in Thailand, while Bukwang Pharmaceutical will supply the finished product and support local licensing as both companies move to establish a presence in the Thai market.

Founded in 1961, Pacific Healthcare is one of Thailand's leading healthcare companies, with a nationwide distribution and sales network spanning the pharmaceutical and medical device sectors.

Bukwang Pharmaceutical launched Dexid in 2014 as an improved formulation of existing alpha-lipoic acid compounds. The prescription drug treats diabetic polyneuropathy and is recommended as a pathogenic treatment in domestic and international diabetes clinical guidelines.

Dexid is currently sold in South Korea, Cambodia and the Philippines, with regulatory approval under way in Vietnam. The Thailand entry is expected to strengthen the brand's position across the ASEAN region, where diabetes prevalence rates are high relative to population.

Taking an improved drug with a proven domestic prescription record into overseas markets through global partnerships is considered a high-value export model — one that reduces research and development risk compared with entirely new drugs while efficiently capturing emerging markets such as Southeast Asia, where disease prevalence is elevated.

"Dexid is one of Bukwang Pharmaceutical's flagship prescription products, with a consistent prescription track record in South Korea," said Lee Je-young, CEO of Bukwang Pharmaceutical. "Leveraging Pacific Healthcare's strong local network, we will work to establish a solid footing in the Thai market and use it as a springboard to accelerate the diversification of our overseas sales channels, with a focus on ASEAN countries."


silverpaper@heraldcorp.com