South Korea’s small-tier drug maker Shinpoong Pharm is poised to begin long-waited exports of its malaria drug Pyramax to 17 countries in Southeast Asia and Africa after the World Health Organization (WHO) finally put the Korean novel drug on its “Model List of Essential Medicines” on Wednesday.

“Pyramax is already approved in about 10 countries, but the WHO listing has proved the drug’s efficacy and safety once again, which symbolizes the first step of commercialization,” Shinpoong Pharm president Ryu Jei-man told Maeil Business Newspaper.

The drug is the 16th original drug developed in Korea. But what makes Pyramax special is that it is Korea’s first home-grown drug with a wholly independent development process from pre-clinical to final phase clinical trials.

Shinpoong Pharm had spent 12 years to develop the anti-malaria drug since 2000. The drug was approved by health authorities in Korea in 2011 and in Europe in the following year. But its market launching has been delayed due to the company’s application for a lengthy review for the WHO listing.

The WHO listing is expected to help speed up the company’s inroads into foreign markets this year because many governments refer to the list of the world’s leading health organization when they create their own list of essential drugs and approve purchasing.

“Pyramax is the world’s first drug available also as granules for children so that we can contribute much to a more effective fight against malaria,” Ryu said. “Now is the time to do more to generate profits for shareholders.”

The company aims to register and distribute the product to treat malaria patients together with the Medicines for Malaria Venture of Switzerland and The Global Fund, which play a significant role in supplying the drug, Ryu added.

The company is now conducting five research projects to develop novel drugs with a different mechanism of action based on its experience in developing Pyramax, according to Ryu.

The country’s secondary Kosdaq-listed Shinpoong Pharm’s stocks closed Thursday at 7,110 won, down 1.8 percent or 170 won from the previous session, taking breath after the three-day winning streaks.

By Kim Yoon-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]