Gan & Lee Pharmaceuticals (SHA: 603087), a China-based pharmaceutical company, has announced that it has received marketing approval from Bolivia’s State Agency of Drugs and Health Technologies (AGEMED) for its insulin glargine product, which comes in a pre-filled format.
Insulin Glargine: A Long-Acting Insulin Analogue
Insulin glargine is a long-acting insulin analogue, also known as a basal insulin analogue, designed for once-daily injection with effects lasting up to 24 hours post-injection. The product is characterized by its prolonged action, lack of peak blood concentration, and steady reduction of blood sugar levels in patients. It is recognized for its favorable efficacy and safety profile. According to the latest data, in 2021, 395,900 people aged 20-79 in Bolivia were diagnosed with diabetes, resulting in an annual medical expenditure of USD 898.8 per capita. The incidence rate of diabetes among adults aged 20-79 in Bolivia stands at 5.7%.
Market Dynamics and Competition in Bolivia
In the Bolivian insulin glargine market, Sanofi’s Lantus maintains a dominant position. The approval of Gan & Lee Pharmaceuticals’ insulin glargine could introduce more competition and potentially offer an alternative option for the treatment of diabetes in the country.-Fineline Info & Tech
