GC said Thursday that it has launched Biocon’s Glargia (insulin glargine), a biosimilar version of French drugmaker Sanofi's Lantus.
The drug, which has already received approval in Europe and Australia, is a long-acting insulin that allows diabetic patients to get along with only one injection a day.
With the launch, the company plans to supply the treatment to hospitals and local clinics.
With the introduction of Glargia in Korea, the company expects that a more affordable diabetes treatment will be available thanks to the relatively lower drug price of 10,878 won ($9.7), which is 83 percent of the price of the original drug, Lantus.
“Glargia is expected to successfully enter the market based on its safety, price competitiveness, and equivalence to existing insulin glargine products,” GC Executive Director Namkoong Hyun said.
Shreehas Tambe, Biocon’s senior vice president and head of Global Insulins Business and Group Projects, also said, “With GC launching Glargia in Korea, we have moved one step closer to our dream of providing the product to one in five diabetics worldwide.”
GC signed a promotional and wholesale agreement with Handok Pharmaceutical last January, in which Handok will be responsible for domestic marketing and sales activities for Glargia.