Daewoong's Envlo Becomes First Korean SGLT-2 Inhibitor to Enter MENA Market in ₩145.2 Billion Deal
Key Insights
Daewoong Pharmaceutical (search) signed a ₩145.2 billion ($93.4 million) export deal with Acino Pharma AG (search) to launch diabetes drug Envlo across eight MENA countries.
This marks the first entry of a Korean-developed SGLT-2 (search) inhibitor into the Middle East and Africa, with launch planned for the first half of 2027.
Envlo demonstrated comparable or superior blood glucose-lowering efficacy at 0.3 mg, roughly one-thirtieth the dose of competing SGLT-2 (search) inhibitors.
Daewoong Pharmaceutical (search) announced on April 2 that it has signed a landmark export and supply agreement with Switzerland-based Acino Pharma AG to bring its domestically developed diabetes drug Envlo to eight major markets across the Middle East and North Africa. The total contract size is approximately ₩145.2 billion ($93.4 million), including milestone payments, making it the largest export deal for Envlo since its global commercialization began.
The agreement covers Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman, Bahrain, Iraq, and Egypt. Daewoong plans to secure marketing approval in Saudi Arabia this year, with local launches across the region expected in the first half of 2027.
"This agreement is meaningful not only because it is Envlo's largest export deal to date, but also because it marks the first entry of a Korean-developed SGLT-2 (search) inhibitor into the Middle East and Africa," said Park Seong-soo, CEO of Daewoong Pharmaceutical (search). "Together with Acino, which has proven commercial capabilities in cardiovascular and metabolic diseases, we will rapidly expand Envlo's presence across the MENA region and develop it into a global blockbuster drug."
A Growing Diabetes Market in MENA
The MENA region represents a substantial commercial opportunity. According to the International Diabetes Federation, one in six adults in the region suffers from diabetes. Data from IQVIA indicates that the diabetes treatment market in Saudi Arabia, the UAE, Kuwait, and Egypt alone reached approximately ₩3.79 trillion last year.
Acino Pharma AG (search), the partner in this agreement, is an affiliate of the Arcera Group, a global healthcare company under the UAE sovereign wealth fund ADQ. The company maintains a strong sales and distribution network across the Middle East and Africa, which Daewoong expects will accelerate Envlo's market penetration.
Clinical Profile and Competitive Differentiation
Envlo is a sodium-glucose cotransporter-2 (SGLT-2 (search)) inhibitor developed for Type 2 diabetes (search). The drug lowers blood sugar by blocking glucose reabsorption in the kidneys and increasing glucose excretion through urine.
According to Daewoong, Envlo demonstrated blood glucose-lowering efficacy comparable to or greater than existing SGLT-2 (search) inhibitors at a dose of just 0.3 milligrams — roughly one-thirtieth the dose of competing products. The company further noted that, unlike conventional SGLT-2 inhibitors whose efficacy tends to decrease in patients with impaired kidney function, Envlo has shown significant improvements in urinary glucose-creatinine ratios, fatty liver indicators, and insulin resistance among diabetic patients with reduced renal function.
Clinical data pointing to potential kidney and cardiovascular benefits could provide Envlo with a key competitive advantage in the region's diabetes treatment market, the company stated.
Broader Industry Context
The deal comes amid record-setting performance for South Korea's pharmaceutical sector. According to the Ministry of Food and Drug Safety, the nation's pharmaceutical production reached ₩33.84 trillion last year, the highest since statistics began in 1998. During the same period, pharmaceutical exports surpassed $10 billion (approximately ₩16.17 trillion) for the first time ever.