BEIJING—Hybio Pharmaceutical Co., Ltd (SHE: 300199), a Chinese biopharmaceutical company, has entered into a licensing agreement with fellow Chinese firm Mullan Pharmaceutical Co., Ltd, concerning the biosimilar version of Novo Nordisk’s Victoza (liraglutide). The agreement encompasses licensing rights, supply, and distribution for Hybio’s biosimilar, which is a glucagon-like peptide 1 (GLP-1) analog used for blood sugar control in adults with type 2 diabetes.
Under the terms of the deal, Mullan Pharmaceutical will pay Hybio an undisclosed sum for licensing fees, milestone payments, supply price, and a 50% profit-sharing arrangement upon conclusion. Mullan is set to handle the market launch and commercialization of the biosimilar in multiple regions, including various countries across Asia, the Middle East, the Americas (excluding the United States), Europe, and Africa.
This strategic partnership aims to broaden the reach of Hybio’s biosimilar, which received temporary approval for marketing in the US in June this year. The agreement underscores the growing interest in biosimilars as cost-effective alternatives to originator biologics and highlights the potential for Chinese biopharmaceutical companies to expand their global footprint in the diabetes treatment market. – Flcube.com
