Eli Lilly and Company announced on Tuesday that the National Medical Products Administration (NMPA) in China has approved the distribution of its injection Mufenda.
This injection is designed to treat diabetes, improve blood sugar control, and aid in weight loss for adults with type 2 diabetes.
The approval marks a significant milestone for Eli Lilly as it aims to expand its footprint in the giant Asian market.
Addressing China’s diabetes challenge
China faces a significant challenge with diabetes, with a large portion of its population affected by the condition.
The Healthy China 2030 plan outlines a goal to achieve a standardized management rate of diabetes patients of 70% or above by 2030.
Eli Lilly’s representative in China emphasized the urgency for more effective treatments, stating, “China is a major country with diabetes.
The Healthy China 2030 plan outline proposes that the standardized management rate of diabetes patients should reach 70% or above by 2030, so we urgently need more effective treatments.”
Innovative treatment for type 2 diabetes
Mufenda stands out as the first and currently only single-molecule dual receptor anti-diabetic drug available.
This innovative treatment reflects Eli Lilly’s ongoing commitment to bringing new and effective treatments to the type 2 diabetes (T2DM) patient population in China.
The company hopes that Mufenda will play a crucial role in improving the lives of millions of Chinese adults battling this chronic condition.
Market response
Following the announcement, Eli Lilly’s shares traded 0.37% higher in the premarket session in New York, selling at $786.04 apiece.
The market’s positive response indicates investor confidence in the potential impact of Mufenda in the Chinese diabetes treatment landscape.
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