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Beijing, China, April 24, 2023 - Gan & Lee Pharmaceuticals Co., Ltd. (hereinafter referred to as Gan & Lee, stock code: 603087. SH) is pleased to announce its insulin glargine injection has been approved by the Agencia Estatal de Medicamentos y Tecnologías en Salud, AGEMED of Bolivia for the treatment of diabetes. It marks that Gan & Lee officially obtained the license to sell insulin glargine injections to Bolivia. It’s also an important milestone for Gan & Lee as a marketing authorization holder (MAH) for the first time in the Latin America region.
Bolivia is a landlocked country located in central South America with a total population of 12,079,500 (2021) and a GDP per capita of $3,345.2 USD (2021, international exchange rate) 1. According to the International Diabetes Federation (IDF) Atlas 10th edition, as of 2021, approximately 395,900 people (aged 20-79) in Bolivia have diabetes, with a prevalence of 5.7%2. Bolivia is bordered by Brazil, Peru, Chile, Argentina, and Paraguay, and has close economic and trade relations with many countries in the Latin American region.
In recent years, under the promotion of the "Belt and Road" initiative, Gan & Lee, one of the major biopharmaceutical companies exporting insulin analogs in China, has responded positively to the call of the state. The company utilized years of international resources and market development experience to expand the markets along the "Belt and Road". By carrying out a series of business cooperation and giving full advantage to ourselves in practice, we have achieved increasing sales performance and market feedback.
Bolivia is a participant in the "Belt and Road" initiative and is also one of the target countries in Gan & Lee's “going global” strategy. Currently, Gan & Lee has established business networks in more than 20 countries and regions in five major areas: Asia Pacific, Russian, Latin America, Middle East and North Africa, and Sub-Saharan Africa. We’ve exported our products to more than 10 countries worldwide. In the future, Gan & Lee will continue to adhere to the win-win strategy of "going global", uphold the development concept of "innovation, openness, and mutual benefit", continuously develop new products and technologies, deeply expand overseas markets, contribute to the "Belt and Road" initiative, actively promote the international development of China's biopharmaceutical industry, and benefit patients in more developing countries.
1. The World Bank. (2023). Bolivia. The World Bank. Retrieved April 24, 2023, from https://data.worldbank.org/country/bolivia
2. IDF Diabetes Atlas 10th edition 2021. Available at: https://diabetesatlas.org/atlas/tenth-edition/
About Gan & Lee
Gan & Lee Pharmaceuticals has developed the first Chinese domestic biosynthetic human insulin. Currently, we have five recombinant insulin analogs commercialized in China including 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.
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