Eli Lilly’s (LLY) diabetes injection Mufenda gets approval in China

By:
on May 21, 2024
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  • The approval marks a significant milestone for Eli Lilly as it aims to expand its footprint in Asia.
  • Mufenda stands out as the first and currently only single-molecule dual receptor anti-diabetic drug available.
  • Eli Lilly’s shares traded 0.37% higher in the premarket session in New York, selling at $786.04 apiece.

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Eli Lilly and Company announced on Tuesday that the National Medical Products Administration (NMPA) in China has approved the distribution of its injection Mufenda.

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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

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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

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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

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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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