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Tonghua Dongbao and Kexing Biopharm team up to fast-track product expansion abroad
Date：2022-12-07
Author：東寶
Views：13
On December 6, 2022, Tonghua Dongbao Pharmaceutical Co., Ltd. (“Tonghua Dongbao” or the “Company”) and Kexing Biopharm Co., Ltd. (“Kexing Biopharm”) signed the Exclusive License Agreement for Liraglutide in Overseas Markets. Under the agreement, the Company will give Kexing Biopharm exclusive rights to sell its liraglutide injections in 17 emerging markets overseas.
By leveraging their respective strengths, the two parties will jointly expand the global market for home-grown liraglutide products. This collaboration will enable Tonghua Dongbao to speed up its global expansion and explore new market opportunities.
Developed by Novo Nordisk, liraglutide is a GLP-1 analog that was introduced into the Chinese market in 2011, and approved for blood glucose control in adults with type 2 diabetes. Liraglutide can not only control blood glucose effectively, but also protect the cardiovascular system and help with weight loss. It was approved for the treatment of obesity by the US FDA in December 2014.
Product stands out with strong advantages and expanding market
The National Medical Products Administration (NMPA) accepted the marketing application for the 18 mg/3 mL subcutaneous pre-filled pen injector on June 8, 2022. This is the second home-grown liraglutide injection to be filed for market approval. The product meets high standards and undergoes strict quality control, making it stand out among its peers in the global market.
Liraglutide injection is a GLP-1 receptor agonist (GLP-1RA), and an emerging anti-diabetic drug with a promising market outlook. According to data from Pharmcube, GLP-1RA drugs had global sales of over USD 15 billion in 2021, with a compound annual growth rate of around 27.39% from 2014 to 2021, showing strong market potential.
Under this collaboration, Kexing Biopharm receives the exclusive rights to market the Company's liraglutide injections in a total of 17 countries in Latin America, the Middle East and North Africa, Southeast Asia, and South Africa. The International Diabetes Federation (IDF) reports that in 2021, there were 537 million adults aged 20-79 years with diabetes worldwide, equating to a prevalence of 10.5%. Diabetes prevalence is especially high in emerging markets. The average diabetes prevalence in the 17 countries covered by this collaboration is 13.8%. Of these countries, 12 have higher prevalence than the global average, indicating significant growth potential for emerging drugs such as GLP-1RA in these regions.
Boosting global expansion to drive sustainable growth
As they gain strength and become more competitive on the international stage, an increasing number of Chinese pharmaceutical companies are entering the global market. Tonghua Dongbao specializes in endocrine metabolism and owns a wide range of insulin products and research projects. Kexing Biopharm has more than 20 years of experience in overseas marketing, and has a particularly strong foothold in emerging markets. Its sales channels reach over 100 million people in these markets. This collaboration marks a significant milestone in the global expansion of Tonghua Dongbao.
With the continued success of its R&D pipeline and the diversification of its product portfolio, Tonghua Dongbao will bring more high-quality and innovative products overseas, solidifying its long-term, sustainable development strategy. Guided by the philosophy of “Establishing a Global Brand Through Consistent Innovation”, the Company is committed to making greater contributions to human health.
