Biocon Inks Deal with South Korea's Handok for Weight Management Product

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Biocon Inks Deal with South Korea's Handok for Weight Management Product

Team FS

24/May/2024

Key Points:

Biocon announces an exclusive licensing and supply agreement with South Korea's Handok for the commercialization of synthetic Liraglutide, a drug used in chronic weight management.
Under the partnership, Biocon will handle development, manufacturing, and supply, while Handok will seek regulatory approval and oversee commercialization in the South Korean market.
The collaboration aims to expand patient access to innovative treatments and addresses the growing need for effective solutions in weight management and diabetes care.

Biocon Ltd. reveals a strategic collaboration with South Korea's Handok, marking an exclusive licensing and supply agreement for the commercialization of synthetic Liraglutide, a crucial drug in chronic weight management. This partnership underscores Biocon's commitment to expanding its global footprint and providing innovative treatment options to address unmet patient needs.

Shared Responsibilities for Market Access:
In this agreement, Biocon will lead the development, manufacturing, and supply chain operations for synthetic Liraglutide, while Handok, a reputable specialty pharmaceutical firm in South Korea, will focus on securing regulatory approvals and driving commercialization efforts in the local market. By combining their expertise and resources, both companies aim to streamline the pathway for patient access to this essential therapy.

Addressing Market Opportunities and Patient Needs:
With the total addressable market opportunity for Liraglutide estimated at USD 47 million in South Korea, according to IQVIA MAT Q4 2023 data, the collaboration between Biocon and Handok holds significant potential for market penetration and revenue growth. Moreover, this partnership aligns with Biocon's broader mission to enhance global healthcare outcomes by delivering innovative, affordable medicines to patients worldwide.

Conclusion:
Biocon's partnership with Handok represents a strategic milestone in the commercialization of synthetic Liraglutide for chronic weight management in South Korea. By leveraging each other's strengths and capabilities, both companies aim to drive market expansion, improve patient access to advanced therapies, and contribute to the advancement of healthcare outcomes in the region. As regulatory processes unfold and commercialization efforts progress, stakeholders anticipate positive outcomes for patients and stakeholders alike.

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Biocon Inks Deal with South Korea's Handok for Weight Management Product

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