Business Update24 May 2024, 01:52 pm
Biocon Ltd. Announces Exclusive Licensing and Supply Deal for Liraglutide in South Korea with Handok Inc.
AI Summary
Biocon Ltd., an innovation-led global biopharmaceutical company, has announced an exclusive licensing and supply agreement with Handok, a specialty pharmaceutical company in South Korea, for the commercialization of its complex drug product, Synthetic Liraglutide. The agreement involves Biocon handling the development, manufacturing, and supply of the drug, while Handok will be responsible for regulatory approval and commercialization in the South Korean market. Handok, a leading company in diabetes management in South Korea, will expand its portfolio into the obesity sector with this collaboration. The total addressable market opportunity of Liraglutide in Korea is approximately US $47 million.
Key Highlights
- Biocon Limited and Handok sign exclusive licensing and supply deal for Synthetic Liraglutide in South Korea
- Biocon to handle development, manufacturing, and supply of Liraglutide
- Handok to be responsible for regulatory approval and commercialization in South Korea
- Collaboration allows Handok to expand portfolio into the obesity sector
- Total addressable market opportunity of Liraglutide in South Korea is approximately US $47 million