Biocon and Handok to Commercialize Liraglutide in South Korea

Indian biopharmaceutical company Biocon has announced an exclusive license and supply agreement with Handok to bring synthetic Liraglutide to South Korea. Liraglutide, a complex, vertically integrated drug, is used for chronic weight management and is administered via pre-filled injection pens. This drug is intended to be part of a comprehensive weight management plan that includes a reduced-calorie diet and increased physical activity.

Under the terms of the agreement, Biocon will be responsible for the development, manufacturing, and supply of Liraglutide within South Korea. Handok, on the other hand, will manage the regulatory approvals and oversee the commercialisation of the product in the South Korean market. This partnership combines Biocon's expertise in drug development with Handok's strong regional capabilities in regulatory affairs and commercialization.

Handok’s existing portfolio in diabetes care includes products like Amaryl, Tenelia, and the Barozen Fit real-time glucose monitoring device, which positions the company well to introduce Liraglutide in South Korea. The collaboration aligns with both companies’ strategic goals to provide innovative and affordable treatment options for patients.

According to IQVIA, a global contract research organization, the market opportunity for Liraglutide in South Korea is valued at $47 million for the fourth quarter of 2023. This significant market potential underscores the importance of this partnership for both Biocon and Handok.

Biocon CEO and Managing Director Siddharth Mittal expressed satisfaction with the partnership, emphasizing that it would enable South Korean patients struggling with weight management to access Biocon’s GLP-1 peptide drug product, synthetic Liraglutide. Mittal highlighted that this collaboration aligns with Biocon’s mission to expand its portfolio of innovative and affordable medicines, thereby addressing the unmet needs of patients globally. He also expressed confidence in leveraging Handok’s capabilities to enhance patient care in the region.

In related news, Biocon Biologics, a subsidiary of Biocon, completed the integration of Viatris’ biosimilars business across 31 European countries in December 2023. This strategic move is part of Biocon’s broader effort to expand its global footprint and strengthen its position in the biopharmaceutical industry.

The partnership between Biocon and Handok represents a promising development in the field of chronic weight management. By bringing together Biocon’s robust drug development capabilities and Handok’s market expertise, the collaboration aims to provide effective and affordable treatment options for patients in South Korea, thereby improving their quality of life.