Drug major Lupin on Wednesday said it has joined hands with Yabao Pharmaceutical Co Inc to meet the growing demand for quality drugs with pediatric formulations in the Chinese market.
The demand for high quality pediatric medicines has been growing rapidly in China as a result of the government’s support and policy measures. “We are excited about this partnership as it paves the way for us to bring quality pediatric formulations to the growing needs of patients in China. “In addition to marketing our pediatric products in the Chinese market, we intend to expand our collaboration in other strategic therapeutics areas such as cardio- metabolic, central nervous system and gastro-enterology,” Lupin President – Corporate Development and Growth Markets Fabrice Egros said in a statement.
The latest Chinese pediatric pharmaceutical market report indicates that the market for pediatric drugs in China was pegged around USD 33 billion in 2021, growing at a rate of 9.23 per cent.
“We are very pleased to be partnering with Lupin to further strengthen Yabao’s leadership position in the pediatric market. Yabao strives to develop its pediatric pipeline to address the urgent unmet needs in the market and to serve the pediatric patients,” Yabao President Wei Ren said. Moreover, the company also looks forward to expanding the collaboration with Lupin in other areas, he added.
