Biocon Signs Supply Pact with Handok for Chronic Weight Management Product

Biocon Ltd said it has marked a exclusive licensing and supply concurrence with South Korea's Handok for commercialisation of its complex drug product, synthetic Liraglutide, utilized in the therapy of constant weight management. As per the agreement, Biocon will embrace the turn of events, manufacturing and supply of the drug product, and Handok, a specialty drug firm, will be liable for getting administrative endorsement and commercialisation in the South Korean market, the organization said in a proclamation.

"The 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," Biocon CEO and Managing Director Siddharth Mittal said.

He further said, "This also aligns with our commitment to expand our portfolio of innovative, affordable medicines to address the unmet needs of patients around the world."

Handok is among South Korea's driving firms in the administration of diabetes, offering a large group of arrangements from diagnosis to treatment and care.

"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," Handok Chairman YoungJin Kim said.

Biopharmaceutical firm said the complete addressable market chance of Liraglutide in South Korea is roughly USD 47 million according to the IQVIA MAT Q4 2023.