BRIEF—China insulin supplier eyes going public

Chinese insulin supplier Gan & Lee Pharmaceutical aims to go public soon in Shanghai Stock Exchange's STAR market, which mimics Nasdaq to attract Chinese innovative companies in the science and technology sector.

The Beijing-based company is known for its insulin biosimilars including long-acting insulin, NPH insulin and regular insulin.

In China, which is home to over 114 million patients with diabetes, according to IDF, the insulin market, especially the NPH and long-acting insulin sector, is dominated by the three multinationals - Sanofi, Novo Nordisk and Eli Lilly.

According to Gan & Lee, by lowering the price about 20% lower than the multinational counterparts, its insulin injections are used in over 7,000 public hospitals in small cities and rural areas.