20 December 2018 | News
Agreement expected to establish presence in key regulated markets for diabetes patients while generating savings for healthcare system overseas.
Gan & Lee Pharmaceuticals (Gan & Lee), an industry leading biopharmaceutical company with 20 years’ experience specializing in research, development, production and commercialization of insulin and its analogues in China, has entered into an agreement to commercialize biosimilar versions of three key insulins used in patients with Type 1 and Type 2 diabetes to Sandoz, a Novartis division and global leader in biosimilar pharmaceuticals.
The strategic cooperation will be a milestone for Gan & Lee’s global business. The agreement covers EU, US and other key regulated markets where Gan & Lee does not have existing commitments. Terms of the agreement are confidential.
“We are delighted to achieve this comprehensive agreement with Sandoz,” said Kai Du, Corporate VP of International Business Development, Gan & Lee. “Through the collaboration we are expecting to provide patients in regulated markets outside of China with more treatment choices.”
When the pancreas does not produce enough insulin, a hormone that regulates blood sugar, a serious chronic disease called diabetes can occur. It is estimated that more than 400 million adults worldwide are living with diabetes, and that number is expected to rise. People with diabetes may develop blindness, kidney failure, heart attacks, stroke, require lower limb amputation, and may suffer from other comorbidities including other cardiovascular diseases. In 2015, diabetes treatments recorded 3 billion in sales, roughly 12% of the overall global healthcare expenditure.