 "Biocon signs licensing, supply deal for obesity drug in South Korea")
Bengaluru-based Biocon has announced an exclusive licensing and supply agreement with Handok to commercialise the South Korean company’s obesity drug Synthetic Liraglutide in that country.
Liraglutide, which is administered via a pre-filled pen injection, is used for chronic weight or obesity management alongside a reduced-calorie diet and increased physical activity. Biocon will handle the drug’s development, manufacturing and supply, while Handok will manage regulatory approval and commercialisation in the South Korean market. Liraglutide’s total addressable market opportunity in Korea is approximately $47 million, according to an estimate last year.
“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…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,” said Siddharth Mittal, chief executive officer and managing director, Biocon.
Handok provides comprehensive solutions from diagnosis to treatment and care. Its diabetic portfolio features products such as Amaryl and Tenelia, along with the recently launched Barozen Fit, a real-time glucose monitoring device.