Lupin inks pact with S Korean firm to launch diabetes drug

The strategic distribution agreement with LG Life Sciences is to launch insulin Glargine under the brand name Basugine

Mumbai-based pharmaceutical company Lupin Limited today signed a strategic distribution agreement with LG Life Sciences of South Korea to launch Insulin Glargine, a novel insulin analogue under the brand name Basugine. According to the agreement, Lupin would be responsible for marketing and sales of Basugine in India.

Insulin Glargine is indicated for the treatment of adult patients with type 1 diabetes or type 2 diabetes.

The overall diabetes market size within the Indian pharmaceutical market stood at Rs 6032 crore, growing at 18% (IMS MAT April 2014). The total insulin analogue market size is valued at Rs 585 crore with 3 year CAGR of 24%. The total glargine molecule market is Rs 218 crore with 3 year CAGR of 23%, said a company statement.