Global pharma major Lupin on Wednesday announced to have entered a strategic partnership with Yabao Pharmaceutical to meet the growing demand for quality drugs with paediatric formulations in the Chinese markets.
The demand for high quality paediatric medicines has been growing rapidly in China as a result of the government’s support and policy measures, the company said.
“The partnership paves the way for us to bring quality paediatric formulations to the growing needs of patients in China. In addition to marketing our paediatric 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,” Dr. Fabrice Egros, President - Corporate Development and Growth Markets, Lupin said.
The latest Chinese paediatric pharmaceutical market report indicates that the market for paediatric drugs in China is expected to reach 210 billion CNY (33 billion USD) in 2021, growing at a rate of 9.23%.
“Yabao strives to develop its paediatric pipeline to address the urgent unmet needs in the market and to serve the paediatric patients. Moreover, Yabao also looks forward to expanding the collaboration with Lupin in other areas,” said Wei Ren, President of Yabao.
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