More than 10 South Korean pharmaceutical companies are pivoting toward veterinary medicine as a strategic growth engine. While Daewoong Pharmaceutical is drawing significant attention for its two promising new drug candidates, competitors such as HK inno.N and Yuyu Pharma are also moving rapidly to secure their positions in the market.
According to industry sources on the 22nd, Daewoong Pharmaceutical is widely considered the frontrunner for securing the year’s first veterinary drug approvals. The company filed applications with the Animal and Plant Quarantine Agency for Enblo Pet, a diabetes treatment for dogs, in October 2023, followed by Flodicitinib, an atopic dermatitis treatment, in January 2024.
Anticipation for Enblo Pet and Flodicitinib
Industry observers speculate that a decision on Enblo Pet may be imminent, as the review process has now exceeded six months. The drug utilizes the same active ingredient as Enblo (inavogliflozin), which was launched in 2023 as South Korea’s 36th novel human drug. It functions as an SGLT-2 inhibitor, blocking glucose reabsorption in the kidneys.
"A substance that works in humans is not automatically effective in animals," noted an industry official. "However, because clinical data for SGLT-2 inhibitors like Enblo have shown efficacy across both species, the likelihood of approval remains high."
Meanwhile, Flodicitinib—a Janus kinase (JAK) inhibitor—underwent animal clinical trials before its human Phase 1 trials. If approved, it is expected to compete directly with Apoquel, the current market leader in its class developed by Zoetis. Flodicitinib is particularly noted for its ability to selectively control JAK3, which is closely related to skin diseases, potentially offering a better side-effect profile.
Expanding Pipelines Across the Industry
Other major players are following suit with aggressive development timelines:
HK inno.N: In May 2023, the company received approval to conduct Phase 3 clinical trials for its own JAK inhibitor (IN-115314) aimed at canine atopic dermatitis.
Yuyu Pharma: Taking a long-term approach, Yuyu established Yuyu Venture in December 2025 with a $4.5 million investment. Its subsidiary, Yuyu Bio, recently established an office at UCLA to accelerate its expansion into the global pet wellness market.
Yuhan Corporation: Leveraging an "open-innovation" strategy, Yuhan launched the canine dementia treatment Jedacure in 2021 with GNT Pharma and the anticancer drug Vaxleukin-15 in 2023 with Vaxcell Bio.
Additionally, Chong Kun Dang, Kwangdong Pharmaceutical, and Cho-A Pharmaceutical are reportedly exploring entries into the veterinary space.
Government Support and the Need for Policy Expansion
The South Korean government is actively supporting this shift. In 2024, a dedicated review team was established, and a "fast-track" system introduced in April 2023 has shortened development timelines to between four and seven years. These measures have already yielded results, with 14 new domestic veterinary drugs approved over the past two years—a sharp increase from the single approval seen between 2022 and 2023.
However, industry experts argue that the fast-track program’s scope is currently too narrow, as it primarily targets advanced biotechnologies like cell and gene therapies. "There is strong demand for oral medications and topical ointments for chronic animal diseases," an industry official stated. "Discussions are needed to broaden the fast-track criteria and potentially waive certain clinical stages to better meet market needs."
