Celltrion-Poonglim Pharmatech selected'National No. 1'insulin pen-type injection drug as a national project
Developed insulin pen-type injection for the first time in Korea...?Selected as a national project worth 4 billion won
-Celltrion, insulin biosimilar, started development this year and aimed to launch in 2025
-Intensifying monopoly of multinational pharmaceutical companies in the global insulin pen-type injection market...Secure cost competitiveness through localization and reduce dependence on imports
[June 3, 2020] Celltrion was?finally selected as a?national project?[1]?for the?development of a'customized diagnostic treatment product', which the Korea Institute of Industrial Technology Evaluation and Management (KEIT) conspired as part of the core technology development project for the?bioindustry. Miller begins to develop in earnest.
Celltrion, together with Punglim Pharmatech, a company specializing in medical devices, was selected as the final recipient of this project.?Celltrion is responsible for the development and clinical of insulin formulation biosimilar, and Poonglim Pharmatech plays a role in the development of an auto pre-filled pen type injector that can be used by filling the biopharmaceuticals developed by Celltrion. Divided.?The project scale is 4 billion won for 4 years, of which 3 billion won is supported by the government.
The National Project Evaluation Committee selected the two companies as the final targets by highly evaluating the R&D plan of the business plan submitted by the two companies and the project performance and capabilities.?In particular, through the implementation of this project, when the'Localization No. 1'product that combines quality and cost competitiveness is released in the global insulin pen-type injection market, which has been monopolized by multinational pharmaceutical companies, it received a high score that it can lower the dependence on imports for the preparation.
Both companies intend to develop a pen-type injection that can be administered up to 80 units at a time in an automatic injection method considering patient convenience, and plan to succeed in commercialization by 2025 through four years of research and development.?In this way, the first domestic insulin pen-type injections using domestic materials will be born.
Currently, 96% of the global insulin market is in an extreme monopoly state by three original companies (Sanofi, Lily and Novonodisk).?There were many opinions that the domestic insulin market is highly dependent on imported products, such as Novo Nordisk occupying 45%, and localization of products is urgent.
In particular?, about half of the world's diabetic patients, estimated at?about 460,300 people?[2]?, already use insulin pen-type injections, and this market is also growing by about 9% every year, so the market size in 2023 is at least 37 trillion won?[3] ] Is??expected to reach the level.
Celltrion is a pen-type that lowers unit cost and enhances patient convenience through localization in the current treatment environment, where the proportion of diabetic patients who stop injection therapy themselves is 77% due to high cost, inconvenience of administration method, and difficulty in managing needle use. It is judged that patient access to injection therapy will be improved if injection drugs are supplied.
An official from Celltrion said, ?The selection of the target for this national project is the result of the recognition of the technological development innovation of both companies and the know-how and development of the market in the future.? "We expect diabetic patients to benefit from the ease-of-use injections at a lower cost."
[1] Project name: Development of automatic pre-filled pen time device products for biopharmaceuticals with stability [2] Based on statistics released by the International Diabetes Federation 2019 [3] Source: Global Research Company Technavio, Insulin Pen-Type Injection Market Size Report
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