Beijing, China, January 26, 2024 - Gan & Lee Pharmaceuticals Co., Ltd. (hereinafter referred to as Gan & Lee, stock code: 603087. SH) recently announced that its insulin aspart injection has been approved for the treatment of diabetes by the Agencia Estatal de Medicamentos y Tecnologías en Salud (AGEMED) of Bolivia. This is another achievement following the previous approval of Gan & Lee's insulin glargine injection. The approval signifies Gan & Lee as a marketing authorization holder (MAH) for insulin aspart injection in Bolivia, granting the company the official commercial license to sell the product in the country. This milestone also marks the company’s first success in introducing its insulin aspart to the Latin American region.

Bolivia, located in central South America, has a total population of 12.22 million (2022), with a per capita GDP of $3,600.¹(2022, international exchange rate). According to the latest data from the International Diabetes Federation (IDF) Atlas, 10th edition (2021), approximately 395,900 people aged 20-79 years were reported to have diabetes in Bolivia in 2021. The average annual diabetes-related expenditure per patient was $898.8. The prevalence of diabetes in the adult population aged 20-79 years in Bolivia was 5.7%.²

In Bolivia, the primary supplier of insulin aspart injections was the originator, Novo Nordisk. Gan & Lee's insulin aspart product is the first biosimilar insulin aspart approved in the country, which means we have broken the market monopoly and introduced a high-quality, low-cost biosimilar medicine to Bolivia. This move enriches the local diabetes treatment options and provides a cost-effective alternative for people with diabetes in Bolivia.

Drawing on years of experience in overseas market development and international resources, Gan & Lee continues to strengthen its commercial network in countries along the "Belt and Road". Bolivia is a participant in the "Belt and Road" initiative and is also one of the target countries in Gan & Lee Pharmaceuticals' “going global” strategy. The approval marks a crucial step in Gan & Lee's commitment to its global strategy, providing multiple treatment options for diabetes patients in Bolivia. This move is in line with the company's efforts to contribute to the globalization of healthcare solutions and reflects the broader vision of improving access to healthcare for diabetes patients in the region.

References：

1.     The World Bank. (2024). Bolivia. The World Bank. Retrieved January 25, 2024, from https://data.worldbank.org/country/bolivia

2.     IDF Diabetes Atlas 10th edition 2021. Available

at: https://diabetesatlas.org/atlas/tenth-edition/

cost-effeciions and provides an

About Gan & Lee

Gan & Lee Pharmaceuticals has developed the first Chinese domestic biosynthetic human insulin. Currently, we have six core insulin products, including five insulin analog varieties: long-acting glargine injection (Basalin^®), fast-acting lispro injection (Prandilin^™), fast-acting aspart injection (Rapilin^®), mixed protamine zinc lispro injection (25R) (Prandilin^™25), aspart 30 injection (Rapilin^®30), and one human insulin injection - mixed protamine human insulin injection (30R) (Similin^®30). We have two approved medical devices in China, namely reusable insulin injection pen (GanleePen), and disposable pen needle (GanleeFine^®).

In the future, Gan & Lee strives to achieve a comprehensive coverage in the field of diabetes diagnosis and treatment. Moving forward to advance our goal of becoming a world-class pharmaceutical company, we will also take an active part in developing new chemical entities, and work on the treatment of cardiovascular diseases, metabolic diseases, cancer, and other therapeutics.