Sciwind Biosciences diabetes drug approved in China

Its CEO, Pan Hai, previously told Reuters that pricing in ⁠China would be in line with other approved competitors. Unlike Novo's Ozempic and Lilly's Mounjaro, ecnoglutide will not be covered ⁠under China's state-run health insurance scheme for type 2 diabetes treatment.

Sciwind Biosciences' type 2 diabetes treatment Xianyida was approved for use in ‌China, the company said on Friday, adding another participant to a hot sector in the ⁠world's second-largest pharmaceutical market. China has the highest number of adults with diabetes in the world, according to estimates from the International ​Diabetes Federation, and drugmakers including Novo Nordisk, Eli Lilly and Innovent ‍Biologics have launched injectable medicines that are designed to support them.

Hangzhou, China-based Sciwind's injection, which is also known by the name ecnoglutide, belongs to ⁠a ‌class of ⁠drugs called GLP-1 receptor agonists, which work by helping control blood sugar levels ‍while triggering a feeling of fullness. Sciwind has sought to license ​ecnoglutide abroad and also applied to sell it in China ⁠for weight management. Its CEO, Pan Hai, previously told Reuters that pricing in ⁠China would be in line with other approved competitors.

Unlike Novo's Ozempic and Lilly's Mounjaro, ecnoglutide will not be covered ⁠under China's state-run health insurance scheme for type 2 diabetes treatment. ⁠Pan declined ‌to comment on when it would launch, pricing and whether it would enter the scheme in ⁠the future.