The South Korean pharmaceutical company Handok and Biocon Limited signed an exclusive licensing and supply agreement to commercialize Biocon Limited’s sophisticated, vertically integrated therapeutic product, Synthetic Liraglutide.
Liraglutide is an injectable in a pre-filled pen that is used as a supplement to a lower-calorie diet and more exercise for the treatment of chronic weight control, according to the sources. As per the deal, Handok will be in charge of securing regulatory permission and launching the drug product on the South Korean market, while Biocon will handle the development, production and delivery of the medication.
Among Korean businesses that specialize in diabetes management is Handok, which provides a range of services from diagnosis to care and treatment. Products like Tenelia, Amaryl and the newly released Barozen Fit, a real-time glucose monitor, are among the company’s diabetic offerings.
“The partnership with Handok, which will enable patients in South Korea dealing with weight management to gain access to our GLP-1 peptide drug product, synthetic Liraglutide,” Biocon CEO and Managing Director Siddharth Mittal said.
He further said, “This is also consistent with our goal to broaden our selection of cutting-edge, reasonably priced medications to better serve the unmet medical needs of people worldwide.” One of the top companies in South Korea for diabetes management is Handok, which provides a range of services from diagnosis to care and treatment.
According to Biocon officials, the IQVIA MAT Q4 2023 shows that there is about $47 million in total addressable market opportunity for Liraglutide in South Korea.
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