Lupin Limited (Lupin) announced today that it has formed a strategic relationship with Yabao Pharmaceutical Co. Inc. (Yabao) to satisfy the growing demand for high-quality pharmaceuticals in pediatric formulations in Chinese markets.
“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,”Dr. Fabrice Egros, President – Corporate Development and Growth Markets, Lupin said.
As a result of the government’s assistance and policy actions, China’s need for high-quality pediatric pharmaceuticals is quickly increasing. According to the most recent Chinese pediatric pharmaceutical market estimate, the market for pediatric pharmaceuticals in China is predicted to reach 210 billion CNY (33 billion USD) in 2021, with a 9.23% annual growth rate.
“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. Moreover, Yabao also looks forward to expanding the collaboration with Lupin in other areas,”Mr. Wei Ren, President of Yabao said.
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