Biocon Ltd has announced an exclusive licensing and supply agreement with South Korea’s Handok for the commercialization of its synthetic Liraglutide, a complex drug product aimed at chronic weight management. Under this agreement, Biocon will be responsible for the development, manufacturing, and supply of the drug, while Handok will handle regulatory approvals and market commercialization in South Korea.

Siddharth Mittal, Biocon’s CEO and Managing Director, highlighted the partnership’s potential impact: “This collaboration with Handok will allow patients in South Korea managing their weight to access our GLP-1 peptide drug product, synthetic Liraglutide.”

Handok, a leading pharmaceutical company in South Korea, is well-regarded for its comprehensive diabetes management solutions, ranging from diagnosis to treatment and care. Chairman YoungJin Kim of Handok expressed optimism about the partnership: “Liraglutide is a significant drug for treating diabetes and obesity. Our collaboration with Biocon will allow Handok to expand into the obesity sector, benefiting patients and enhancing our competitive edge.”

According to IQVIA MAT Q4 2023 data, the market opportunity for Liraglutide in South Korea is estimated at approximately USD 47 million. This agreement signifies a strategic move for both Biocon and Handok in addressing the growing need for effective weight management solutions.

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