All data are based on the daily closing price as of July 12, 2024

LG Chem Launches Synovian Osteoarthritis Drug in China

Yifan Pharmaceutical to Drive Synovian's Market Penetration in China
South Korea
l 051910.KO Blue Chip 150 OM 60
Share this on

LG Chem Ltd. has officially introduced its new osteoarthritis treatment, Synovian, into the Chinese market through a partnership with Yifan Pharmaceutical. Synovian, branded as Hyruan ONE in China, is distinguished by its single-injection formulation, offering a significant advantage over the traditional multi-injection treatments.

Yifan Pharmaceutical, based in Hangzhou, China, brings extensive local expertise to the partnership. Established in 2000, Yifan has built a robust sales network across China, supported by a workforce of over 6,000 employees and annual sales of $800 million. The company is recognized for its innovative approach and was listed among “China’s Top-100 Innovative Pharmaceutical Companies” in 2022.

LG Chem’s Synovian, containing cross-linked hyaluronic acid, was developed to provide effective pain relief and improve joint function for osteoarthritis patients with a single administration. Clinical trials conducted in China confirmed that Synovian’s efficacy and safety are comparable to existing multi-injection hyaluronic acid products.

The product’s entry into the Chinese market follows a thorough approval process, beginning with local clinical trials initiated in 2019 and culminating in marketing approval in April 2023. After securing its place on the National Reimbursement Drug List, Synovian is well-positioned for widespread adoption.

With a Chinese market for osteoarthritis treatments valued at $144 million, Synovian’s unique single-injection advantage is expected to resonate strongly, particularly among healthcare providers who prioritize convenience and reduced infection risks. LG Chem will support Yifan’s efforts through comprehensive training programs and by fostering academic exchanges between Chinese and South Korean medical professionals.

 

 

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top