Biocon announced a significant partnership with Handok, a specialty pharma company in South Korea. Biocon has entered into an exclusive licensing and supply agreement with Handok to develop, manufacture, and supply Synthetic Liraglutide, a complex drug product aimed at chronic weight management.
Liraglutide, delivered via a pre-filled injection pen, is designed to support chronic weight management when combined with a reduced-calorie diet and increased physical activity. This agreement will see Biocon handling the development, manufacturing, and supply of the drug, while Handok will manage regulatory approval and commercialization in South Korea. Known for its leadership in diabetes management, Handok’s expertise spans from diagnosis to comprehensive treatment and care.
Expressing his enthusiasm, Siddharth Mittal, CEO and MD of Biocon, stated, “We are pleased to enter into this 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.”
Handok’s chairman, Younglin Kim, highlighted the significance of Liraglutide in treating diabetes and obesity. “Our collaboration with Biocon will allow Handok to expand its portfolio into the obesity sector, benefitting patients and enhancing our competitive edge,” Kim remarked.
Biocon’s shares reflected the positive news, trading 4.52% higher at ₹329.75 apiece at 10:25 AM on Friday, May 24. The stock has also emerged from the F&O ban, indicating that new positions can now be created.
