The deal is part of Sanofi's effort to recover ground in the diabetes market.
Sanofi and Hanmi Pharmaceuticals Co. Ltd today announced a $4.2 billion in which Sanofi will gain exclusive worldwide rights to develop and commercialize Hanmi’s novel diabetes treatments.
These include a long acting glucagon-like peptide-1 (GLP-1) receptor agonist, a weekly insulin and a GLP-1 and insulin that act in combination. Collectively, they are known as Hanmi’s Quantum project.
Hanmi, based in South Korea, will retain an option to commercialize its products in Korea and China.
The deal, announced jointly in Paris and Seoul, is seen as a way for Sanofi to revive its diabetes business to compete with Novo Nordisk and Eli Lilly, particularly in the area of long-acting therapies.
Hanmi’s efpegelenatide, a late-stage long acting GLP-1 RA, was featured at the 75th Scientific Sessions of the American Diabetes Association in June.
"The agreement to develop these three investigational diabetes medicines confirms Sanofi's long-term commitment to people with this disease," said , executive vice president, Sanofi, who will lead the Global Diabetes and Cardiovascular Care Business Unit in the company's new organizational structure.
"We now have the opportunity to expand our existing portfolio by including medicines that are administered weekly as well as daily, which could extend our reach in basal insulin and expand our GLP-1-RA and GLP-RA/insulin combination prospects. In these ways, we aim to complement our current offerings and work to serve a broader patient population."