Biocon partners with Handok for generic liraglutide in South Korea

Indian biotech major Biocon (BSE: 532523) has signed an exclusive licensing and supply agreement with South Korea’s Handok Pharmaceuticals, for the commercialization of its vertically integrated, complex drug product, synthetic liraglutide.

Biocon’s liraglutide is an injection in pre-filled pen, used in the treatment of chronic weight management as an adjunct to a reduced-calorie diet and increased physical activity, originated and marketed by Denmark’s Novo Nordisk’s (NOV: N) as Saxenda for obesity and sold under the brand name Victoza for diabetes.

Under the terms of this agreement Biocon, whose shares rose as much as 4% following the announcement, will undertake the development, manufacturing and supply of the drug product, and Handok will be responsible for obtaining regulatory approval and commercialization in the South Korean market.