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Beijing, China, December 26, 2022 - Gan & Lee Pharmaceuticals Co., Ltd. (hereinafter referred to as Gan & Lee, stock code: 603087. SH) is pleased to announce its partnership with an Insonesian pharmaceutical company on the local-filling insulin glargine (prefilled pen) and insulin aspart (5 prefilled pens) achieved great results. The two locally-produced products have been approved by the Indonesia Ministry of Public Health for the treatment of diabetes. This achievement means that the two major insulin products have been shortlisted for the bidding in the Indonesian public market, which will compete with imported drugs in the market.
Located in Southeast Asia, Indonesia has a total population of 273 million (2021), making it the fourth most populous country in the world with a GDP per capita of $4,332.7USD(2021)1. At present, the total volume of Indonesia's insulin market is about $54 million USD2. According to the International Diabetes Federation (IDF) Atlas 10th edition, as of 2021, about 19.5 million adults(aged 20-79) in Indonesia have been diagnosed with diabetes, with a prevalance of 10.8%, while the undiagnosed rate is as high as 73.3%, ranking first in the world3.
Compared with imported original drug, biosimilar insulins are more affordable, which can benefit patients in economy while ensuring safety and quality. In the partnership, with the purpose of meeting the needs and improving the treatment conditions of patients, Gan & Lee utilized its own R&D resources to introduce high-tech products and production technologies into Indonesia and apply them to localized production. This approval will provide Indonesian diabetic patients with safe and reliable insulin products of consistent quality, while greatly reducing treatment costs and bringing positive social and economic benefits.
Gan & Lee has worked together with many international large pharmaceutical companies in various fields such as market investment, local distribution and market development to jointly explore diversified local markets. As the only biopharmaceutical company in China that exports insulin analogues, 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, benefiting more patients through high-quality products and services.
1. Indonesia_World Bank https://data.worldbank.org.cn/country/indonesia?view=chart
2. Data from IQVIA database
3.IDF Diabetes Atlas 10th edition 2021. Available at: https://diabetesatlas.org/atlas/tenth-edition/
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