April 24, 2024
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Donga Pharma’s diabetes drug to reach India
South Korean drug maker Donga Pharmaceutical said on March 18 that it will roll out its diabetes drug Suganon in India next month.
India-based pharmaceutical firm Alkem Laboratories won exclusive rights to distribute and market the treatment medicine for type 2 diabetes. It will be officially available in the Indian market on Apr. 1 under the name of Valera.
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It marks the first time that a Korean pharmaceutical company is set to sell its indigenously developed drug in an overseas market.
In 2012, the two companies signed a license-out agreement for India and Nepal. Donga will provide materials for SUGANON and Alchem will be responsible for the manufacturing, sales, and marketing.
Alkem, founded in 1973, is a multinational pharma company headquartered in Mumbai. The company manufactures and sells generic drugs, and formulations in India.
Suganon is a 5mg once-daily tablet for the treatment of type 2 diabetes. The drug was approved by local health authorities as the 26th domestically made drug in 2015.
By Ram Garikipati and newswires (ram@heraldcorp.com)
