Biocon and Handok strike a deal for Synthetic Liglutide in South Korea

Biocon has signed a manufacturing and supply deal to provide Synthetic Liraglutide drug with South Korean pharma leader Handok

As part of its worldwide market strategy, Biocon said on May 24 that it has inked an exclusive licensing and supply contract with Handok, one of the top speciality pharmaceutical companies in South Korea. The partnership is centred on the commercialization of Synthetic Liraglutide, a sophisticated medication used in long-term weight-management therapies.

Pre-filled pen injections containing Synthetic Liraglutide are used as an adjuvant therapy in conjunction with increased physical activity and low-calorie diets. The drug product will be developed, manufactured, and supplied by Biocon, while Handok will be in charge of securing regulatory clearances and promoting the commercial usage of medicine in the South Korean market.

Siddharth Mittal, CEO and Managing Director, Biocon has expressed his enthusiasm for the collaboration and emphasized how it could increase access to GLP-1 peptide medicines in South Korea’s patients and help in weight management. He added that the collaboration is important also in view of tackling the region's pressing health issues and improving illness management.

Younglin Kim, Chairman, Handok said on the agreement that Liraglutide is an important drug in managing diabetes and obesity, positioning the collaboration as pivotal in enhancing Handok's healthcare offerings and competitive positioning.

Biocon's shares surged around 2% trading at ₹321.85 apiece at 11.23 am on May 24^th.