Lupin signs agreement with LG Life Sciences to launch Insulin Glargine
Will sell insulin analogue brand Basugine in India
India, Mumbai-based drug manufacturer Lupin has signed a distribution agreement with LG Life Sciences in South Korea to launch Insulin Glargine, a novel insulin analogue under the brand name Basugine.
According to the agreement, Lupin will be responsible for marketing and sales of Basugine in India. The overall diabetes market size within the Indian pharmaceutical market is US$985m, growing at 18% (IMS MAT April 2014).
Insulin Glargine is indicated for once daily subcutaneous administration for the treatment of adult patients with type 1 diabetes mellitus or in type 2 diabetes mellitus.
Lupin ranks second in the conventional insulin market and grew 10.82% in April, compared with 8% in the region as a whole.
The company is among the fastest-growing players in the oral anti-diabetes drugs market and also in the insulin segment.