Gan & Lee Partners With Lupin Limited To Accelerate Global Rollout Of Bofanglutide (GZR18) Biweekly GLP-1 RA

Gan & Lee Pharmaceuticals. (hereinafter "Gan & Lee" stock code: 603087.SH)announced that it had entered into an exclusive license and supply agreement with Lupin Limited (hereinafter "Lupin"), a leading pharmaceutical company headquartered in India, for its self-developed biweekly GLP-1 receptor agonist, Bofanglutide (Development code: GZR18).

Empowering Lupin to Deepen Bofanglutide's Presence in India
Under the terms of the agreement, Gan & Lee grants Lupin an exclusive license to develop and commercialize Bofanglutide injection in territory of India. This partnership marks the official launch of Bofanglutide's commercial roadmap in India and represents a pivotal step in Gan & Lee's expansion into broader Asian markets with its innovative drugs.

According to the collaboration plan, Lupin will conduct localized clinical studies in India to provide robust data support for the product's regulatory filing. Leveraging Lupin's established commercial infrastructure in India, the Bofanglutide injection is poised to become the first biweekly GLP-1 RA product launched in India, securing a significant first-mover advantage.

Unlocking High-Growth Potential in the GLP-1RA Therapy
As the global burden of metabolic diseases continues to intensify, the GLP-1 class of therapeutics is entering a period of significant market growth. According to Grand View Research, the global GLP-1 RA weight-loss drug market is projected to more than triple over the next six years—surging from $13.84B in 2024 to $48.84B by 2030, representing a compound annual growth rate (CAGR) of 18.5%¹.

The Indian market, in particular, demonstrates exceptional potential. The Indian GLP-1 RA market is expected to reach $117.5M in 2025 and climb to $730.8M by 2033. With a projected CAGR of 19.1% between 2026 and 2033, India's growth rate is among the highest of any major global market².

Gan & Lee Executive Vice President & Chief Commercial Officer (EVP & CCO) Kai Du and Key Accounts Director, Dr Dhaval Soneji commented and believed: "On the heels of the Latin American exclusive agreement signed in November, this new partnership with Lupin for the Indian market further underscores Gan & Lee's rapid global strategic advancement. Moving forward, we will continue to strengthen our global partnership network and accelerate the internationalization and commercialization of our innovative R&D. Our goal is to provide superior treatment options for patients with metabolic diseases worldwide, while showcasing the value of Chinese biopharmaceutical innovation on the global stage."

Nilesh Gupta, Managing Director, Lupin, said, "We are committed to offering the best solutions for managing chronic metabolic diseases like Diabetes, and addressing  Obesity is one of the most urgent global health challenges. This partnership demonstrates our strategic focus on the GLP-1 class of drugs and highlights our dedication to delivering high-quality, innovative therapies for our patients."

Rajeev Sibal, President – India Region Formulations, Lupin, said, "Bofanglutide offers a significant advantage with its convenient fortnightly dosing. This strategic alliance marks a pivotal step in strengthening Lupin's leadership in metabolic health, expanding our innovative portfolio, and reaffirming our commitment to delivering transformative solutions."

About Lupin Limited
Lupin Limited is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. Lupin specializes in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. Trusted by healthcare professionals and consumers globally, the company enjoys a strong position in India and the U.S. across multiple therapy areas, including respiratory, cardiovascular, anti-diabetic, anti-infective, gastrointestinal, central nervous system, and women's health. Lupin has 15 state-of-the-art manufacturing sites and 7 research centers globally, along with a dedicated workforce of over 24,000 professionals. Lupin is committed to improving patient health outcomes through its subsidiaries - Lupin Diagnostics, Lupin Digital Health, and Lupin Manufacturing Solutions.

for more information, visit www.lupin.com.

About Gan & Lee
Gan & Lee Pharmaceuticals developed the first Chinese domestic insulin analog. Currently, Gan & Lee has six core insulin products, including five insulin analog varieties: long-acting glargine injection (Basalin), fast-acting lispro injection (Prandilin™), fast-acting aspart injection (Rapilin), mixed protamine zinc lispro injection (25R) (Prandilin™25), aspart 30 injection (Rapilin30), and one human insulin injection - mixed protamine human insulin injection (30R) (Similin30). The company has two approved medical devices in China, namely reusable insulin injection pen (GanleePen), and disposable pen needle (GanleeFine).

In China's 2024 National Insulin-Specific Centralized Procurement, Gan & Lee Pharmaceuticals ranked first among all selected companies in terms of procurement demand for insulin analogs. The company is also making strides in international markets and received GMP inspection approval from the European Medicines Agency (EMA) in 2024. These achievements significantly boost Gan & Lee's competitiveness in both international and domestic markets.

In the future, Gan & Lee will strive for comprehensive coverage in diabetes treatment. Moving forward with its mission to become a world-class pharmaceutical company, Gan & Lee will also actively develop new chemical entities and biological drugs, focusing on treatments for metabolic diseases, cardiovascular diseases, and other therapeutic areas.

Reference:

¹ Grand View Research. (2025). GLP-1 agonists weight loss drugs market size report, 2030. https://www.grandviewresearch.com/industry-analysis/glp-1-agonists-weight-loss-drugs-market-report

² Grand View Research. (2025). India GLP-1 Receptor Agonist Market Size & Outlook. https://www.grandviewresearch.com/horizon/outlook/glp-1-receptor-agonist-market/india