Handok to market Biocon's weight loss drug in South Korea

24 May 2024 , 12:59 PM

On Friday, Biocon Ltd. said that it has inked a supply and exclusive licencing deal with Handok of South Korea for the commercialization of its sophisticated medication, synthetic ligliglutide, which is used to treat chronic weight control.

According to the agreement, Handok, a specialty pharmaceutical company, will be in charge of getting regulatory approval and commercialization in the South Korean market, while Biocon will handle the development, production, and supply of the drug product, the company stated in a statement.

Biocon CEO and Managing Director Siddharth Mittal stated, “… 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.”

He went on to say, “This also aligns with our commitment to expand our portfolio of innovative, affordable medicines to address the unmet needs of patients around the world.”

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.

“Liraglutide is a significant medication used to treat obesity and diabetes. Handok Chairman YoungJin Kim stated, “Our partnership with Biocon will allow Handok to broaden its line of business into the obesity industry, which will assist patients and strengthen our competitive edge.

According to Biocon, the IQVIA MAT Q4 2023 indicates that the total addressable market opportunity for Liraglutide in South Korea is almost USD 47 million.

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