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Beijing, China, December 8, 2022 - Gan & Lee Pharmaceuticals Co., Ltd. (hereinafter referred to as Gan & Lee, stock code: 603087. SH) is pleased to announce its insulin glargine(prefilled pen) has been approved by the Regulatory Authority of Pakistan for the treatment of diabetes. This means that Gan & Lee officially obtained license to sell insulin glargine product to Pakistan. It’s also an important milestone for Gan & Lee as a marketing authorization holder (MAH) for the first time in the Asia-Pacific region.
Located in South Asia, Pakistan has a population of 225 million(2021), as the sixth most populous country in the world. It is one of the three most important economies in the region with a per capita GDP of US$1,537.9(2021, international exchange rate)1. According to the International Diabetes Federation (IDF) Atlas 10th edition, as of 2021, there are 33 million people(aged 20-79) in Pakistan living with diabetes. The number of patients is the third largest, only after China and India and the prevalence is 30.8%. This prevalence ranks first in the world2. With a huge patient base, Pakistan's diabetes market still has huge space and potential for growth. For Pakistan’s insulin market, the total volume exceeds 50 million USD3. Sanofi, Novo Nordisk and Eli Lilly's insulin drugs account for the majority of the country's market share. This approval allows the official entry of Gan & Lee’s products, and introduces anothter high-quality options to Pakistani patients.
The approval of this overseas product consolidates the company's market position in the field of international diabetes treatment and lays a solid foundation for further expansion of the global market. At present, Gan & Lee's products have obtained drug registration certificates in nearly 20 countries around the world, and the speed of internationalization has steadily accelerated. The company is actively deploying a full range of diabetes treatment products around the world, potentially benefiting more patients through high-quality products and services.
1. Pakistan_World Bank https://data.worldbank.org.cn/country/pakistan?view=chart
2. IDF Diabetes Atlas 10th edition 2021. Available at: https://diabetesatlas.org/atlas/tenth-edition/
3. Data from IQVIA database
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