Lupin and Yabao Announce Strategic Partnership in China
New Delhi : Global pharma major Lupin Limited (Lupin) today announced that it has entered into a strategic partnership with Yabao Pharmaceutical Co. Inc. (Yabao), to meet the growing demand for quality drugs with pediatric formulations in the Chinese markets.
The demand for high quality pediatric medicines has been growing rapidly in China as a result of the government’s support and policy measures. The latest Chinese pediatric pharmaceutical market report indicates that the market for pediatric drugs in China is expected to reach 210 billion CNY (33 billion USD) in 2021, growing at a rate of 9.23%.
Dr. Fabrice Egros, President – Corporate Development and Growth Markets, Lupin said, “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.”
Mr. Wei Ren, President of Yabao said, “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.”