Mankind Pharma partners with Chinese Chongqing Chenan Biopharmaceutical to expand diabetes portfolio
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Mankind Pharma has entered into an exclusive in-licensing and marketing agreement with China-based Chongqing Chenan Biopharmaceutical Co. Ltd. to commercialise Insulin Degludec and Insulin Degludec + Aspart Combination in India.
As per the formal announcement on Thursday, the partnership will strengthen Mankind Pharma’s presence in the diabetes care segment and expand its portfolio of injectable diabetes therapies.
The company said the addition of the two insulin analogues will help broaden its range of treatment options for patients in India and strengthen its position in the injectable diabetes segment.
“China is rapidly emerging as a hub for innovative biopharmaceutical assets. Building on our partnerships for Insulin Aspart and Insulin Degludec, we remain focused on expanding our in-licensing pipeline from China,” said Atish Majumdar, Senior President, Sales and Marketing, Mankind Pharma.
“This partnership reinforces our commitment to expanding access to advanced therapies for patients in India while further strengthening our presence in the injectable diabetes segment,” he added.
The latest agreement is part of Mankind Pharma’s broader strategy of expanding its diabetes portfolio through global partnerships and in-licensing opportunities.
According to the company, China’s developing biopharmaceutical ecosystem is creating opportunities for Indian pharmaceutical companies to access differentiated and innovative assets that can complement their existing portfolios.
The agreement also builds on Mankind Pharma’s earlier partnerships for insulin products, as the company seeks to expand its presence in India’s growing diabetes treatment market.
Mankind Pharma’s stocks after agreement
Shares of Mankind Pharma opened 1.4% higher on Thursday after the pharmaceutical company announced the agreement.
The stock opened at ₹2,424.95 on the BSE, compared with its previous close of ₹2,391. It also touched a high of ₹2,424.95 before coming under selling pressure and falling to an intraday low of ₹2,393.05.
The stock's volume-weighted average price (VWAP) stood at ₹2,401.39, indicating that the stock traded above its previous close on a weighted-average basis, although the sharp retreat from the day's opening level pointed to profit-taking or selling pressure at higher levels.
The partnership is expected to strengthen Mankind Pharma's presence in the diabetes care segment and expand its portfolio of injectable diabetes therapies.