Biocon and Handok Ink Exclusive Deal for Liraglutide Commercialisation in South Korea

On May 24, 2024, Biocon Ltd announced in an exchange filing that the company had signed an exclusive licensing and supply agreement with Handok to commercialise its vertically integrated, complex drug product, Synthetic Liraglutide.

Handok is a speciality pharmaceutical company in South Korea. It is involved in the development and distribution of healthcare solutions to improve health and quality of life for all. Handok’s core business focus is on rare diseases, diabetes, cardiovascular, medical devices, oncology, consumer health and diagnostics.

Liraglutide is an injection in a pre-filled pen used to treat chronic weight management as an addition to a reduced-calorie diet and increased physical activity.

According to the agreement between Biocon and Handok, Biocon will develop, manufacture, and supply the drug product, and Handok will be responsible for obtaining regulatory approval and commercialising it in the South Korean market.

Handok is one of the leading companies in Korea in the management of diabetes. The company offers a comprehensive range of solutions from diagnosis to treatment and care. The company’s diabetic portfolio includes products such as Tenelia, Amaryl and the recently launched Barozen Fit, a real-time glucose monitoring device.

As per the IQVIA MAT Q4 2023, the total addressable market opportunity of Liraglutide in Korea is approximately US $47 million.

Commenting on this collaboration, the Chief Executive Officer and Managing Director of Biocon Ltd, Siddharth Mittal, said, “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.”

The Chairman of Handok, YoungJin Kim, said, “Liraglutide is an important drug product for treating diabetes and obesity. Our collaboration with Biocon will enable Handok to expand its portfolio into the obesity sector, which will benefit patients and sharpen our competitive edge. We look forward to successfully launching and growing Liraglutide in the Korean market.”

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