Indian biopharmaceutical company Biocon has entered an exclusive licence and supply agreement with Handok to commercialise synthetic Liraglutide in South Korea.
A vertically integrated, complex drug, Liraglutide is administered using pre-filled injection pens. It is designed for chronic weight management alongside a reduced-calorie diet and increased physical activity.
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Biocon will handle Liraglutide’s development, manufacture and supply in South Korea.
Handok will oversee the regulatory approvals and commercialisation of the product in the market.
Handok’s diabetes care portfolio includes Amaryl, Tenelia and the real-time glucose monitoring device Barozen Fit.
Global contract research organisation IQVIA’s moving annual total for the fourth quarter of 2023 values the market opportunity for Liraglutide in South Korea at $47m.
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By GlobalDataBiocon CEO and MD Siddharth Mittal stated: “We are pleased to enter into this strategic 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.
“This also aligns with our commitment to expand our portfolio of innovative, affordable medicines to address the unmet needs of patients around the world. We look forward to leveraging Handok’s strong capabilities to help patients in the region better manage their disease.”
In December 2023, Biocon’s subsidiary Biocon Biologics completed the integration of Viatris’ biosimilars business across 31 European countries.
