Investing.com – Sihuan Pharmaceutical Holdings Group Ltd (HK:0460) announced on Thursday that its long-acting insulin analogue degludec targeting type 2 diabetes in adult patients was granted approval for clinical trials from China’s National Medical Products Administration.
The company said in the statement that the drug has shown ultra-long glucose-lowering effect and stable pharmacokinetic profiles in the previous clinical studies. The drug allows for persistent, stable and long-lasting glucose lowering effects that reduce the risk of hypoglycemia.
There are around 92 million diabetes patients in China, with about 150 billion potential diabetes patients. The company put the market volume of diabetes drugs at $5.85 billion (40 billion yuan).
On September 4, the company also announced the establishment of its global business development centre in the U.S., which will help expand and manage the group’s domestic and international presence, speeding up the introduction of international strategic projects.