SOUTH KOREA—Biocon, an Indian biopharmaceutical giant, has forged an exclusive licensing and supply agreement with Handok, a leading South Korean pharmaceutical company, to introduce synthetic Ligarglutide to the South Korean market. 

Liraglutide, a sophisticated drug administered through pre-filled injection pens, is tailored for chronic weight management in conjunction with a reduced-calorie diet and increased physical activity.

Under the agreement, Biocon will spearhead Liraglutide’s development, manufacturing, and supply in South Korea, while Handok will navigate the regulatory landscape and spearhead the product’s commercialization. 

This collaboration represents a significant step in addressing the growing demand for innovative solutions in chronic weight management within the South Korean population.

Handok’s strong foothold in the diabetes care sector, boasting a portfolio that includes well-established products like Amaryl and Tenelia, alongside the cutting-edge real-time glucose monitoring device Barozen Fit, aligns seamlessly with Biocon’s mission to offer innovative and affordable healthcare solutions globally.

The potential market for Liraglutide in South Korea is substantial, with GlobalData estimating it to be worth US$47 million based on the moving annual total for the fourth quarter of 2023.

Siddharth Mittal, CEO and MD of Biocon expressed enthusiasm about the partnership, emphasizing its potential to improve patient outcomes in South Korea’s weight management landscape. 

He stated, “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.”

This collaboration follows Biocon’s successful integration of Viatris’ biosimilars business across 31 European countries in December 2023.

This accomplishment came ahead of schedule, demonstrating Biocon Biologics’ commitment to becoming a global leader in biosimilars. 

The transition included integrating over 70 emerging market countries in July 2023 and North America in September 2023. 

As a result, Biocon Biologics now has a robust commercial footprint across ~120 countries, with a direct presence in the United States, Canada, Europe, and key emerging markets. 

Patients, prescribers, and healthcare systems can continue relying on Biocon Biologics to access high-quality biosimilar therapies. 

The diverse portfolio covers key therapeutic areas of diabetology, oncology, and immunology, reinforcing their commitment to serving millions of patients worldwide.

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