Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) former subsidiary Zhaoke Ophthalmology Ltd (HKG: 6622) has announced a significant milestone. The company’s generic version of AbbVie’s (NYSE: ABBV) bimatoprost and timolol maleate eye drops has been granted approval in China. This approval is for use in lowering the intraocular pressure of patients with open-angle glaucoma and high intraocular pressure, particularly for those who were not well treated with β-receptor blockers or prostaglandin analogs.
Patent Expiry and Market Opportunity
The originator drug, which was approved in China on September 6, 2013, is set to see its patent expire on May 30, 2022, according to China’s Orange Book data. Zhaoke’s in-house developed version is the first-mover generic for bimatoprost + timolol maleate in China. This positions Zhaoke at the forefront of the market for this particular drug combination. Furthermore, this approval marks a significant achievement for Zhaoke, as it is the company’s first portfolio product to gain China market approval.
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