Bukwang Pharm has taken another step in expanding its global business by signing an exclusive distribution agreement for its diabetic polyneuropathy treatment Dexid Tablets in Thailand, strengthening its presence in the fast-growing Southeast Asian pharmaceutical market.
Under the agreement, Thai healthcare company Pacific Healthcare will be responsible for regulatory approval, marketing, sales, and distribution of Dexid Tablets in Thailand. Bukwang Pharm will supply the product and provide technical and regulatory support throughout the approval process.
The partnership is expected to serve as a strategic gateway for Bukwang Pharm's broader expansion across the Association of Southeast Asian Nations (ASEAN), where diabetes prevalence continues to rise and demand for related therapies is increasing.
Dexid Tablets, launched by Bukwang Pharm in 2014, are an improved formulation based on alpha-lipoic acid, an antioxidant commonly used in the treatment of diabetic polyneuropathy. The condition, one of the most common complications of diabetes, can cause numbness, pain, tingling, and sensory impairment in the hands and feet.
The product is currently marketed in South Korea, Cambodia, and the Philippines, while regulatory approval procedures are also underway in Vietnam. Thailand now becomes the latest market targeted under the company's regional expansion strategy.
Founded in 1961, Pacific Healthcare is one of Thailand's established healthcare companies with extensive operations in pharmaceuticals, medical devices, and consumer healthcare products. Industry observers believe the company's well-developed commercial network and local market expertise will help accelerate the product's market penetration following regulatory approval.
Healthcare analysts note that Southeast Asia represents one of the world's fastest-growing diabetes markets due to aging populations, urbanization, and lifestyle changes. As the number of diabetes patients increases, so does the need for therapies addressing long-term complications such as diabetic neuropathy, creating significant opportunities for specialized pharmaceutical products.
The agreement also reflects a broader trend among South Korean pharmaceutical companies seeking overseas growth through exports of proprietary medicines and strategic partnerships in emerging markets. Rather than relying solely on domestic sales, companies are increasingly targeting ASEAN countries with growing healthcare expenditures and expanding pharmaceutical demand.
Bukwang Pharm said it plans to leverage its entry into Thailand as a foundation for further expansion across Southeast Asia. The company aims to diversify its overseas sales channels and strengthen its international business by introducing Dexid Tablets to additional ASEAN markets where diabetes rates remain high.
