Biocon Limited, a leading biopharmaceutical company, has announced an exclusive licensing and supply agreement with South Korean pharmaceutical company Handok Inc. for the commercialization of Synthetic Liraglutide in South Korea. Liraglutide, an injectable medication in a pre-filled pen, is used for chronic weight management in conjunction with a reduced-calorie diet and increased physical activity. Under the agreement, Biocon will be responsible for the development, manufacturing, and supply of Liraglutide, while Handok will manage regulatory approval and commercialization within South Korea.
Handok is renowned for its expertise in diabetes management, with a product portfolio that includes Amaryl, Tenelia, and the Barozen Fit glucose monitoring device. This partnership aims to leverage Handok’s extensive experience and market presence to introduce Liraglutide to South Korea, a market estimated to be worth $47 million, according to IQVIA MAT Q4 2023.
Siddharth Mittal, CEO and Managing Director of Biocon Ltd, expressed enthusiasm about the collaboration, stating, “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.”
Biocon’s commitment to innovative and affordable healthcare solutions is exemplified by this partnership, which not only enhances its presence in the South Korean market but also addresses the growing need for effective weight management therapies.
Biocon Limited is a globally recognized biopharmaceutical company focused on delivering affordable innovation. The company has a broad portfolio of biosimilars, generics, and novel biologics across various therapeutic areas.
Handok Inc. is a leading pharmaceutical company in South Korea, specializing in diabetes management and other healthcare solutions. The company is known for its commitment to improving patient outcomes through innovative products and services.
