Beijing, China, Recently, 2024 - Gan & Lee Pharmaceuticals (hereinafter referred to as Gan & Lee, stock code: 603087. SH) announced a successful collaboration with a renowned local pharmaceutical company in the People's Democratic Republic of Algeria (hereinafter referred to as Algeria) for the localized filling and production of Insulin Aspart Injection pre-filled pen and Insulin Aspart 30 Injection pre-filled pen, which have been approved by the Algerian Ministry of Pharmaceutical Industry. This approval marks the successful launch of Gan & Lee's first localization project in the African market, opening a new chapter in Gan & Lee's global pharmaceutical landscape.

Algeria, located in northwest Africa, is the largest country in Africa with a vast territory of 2.38 million square kilometers¹. As of 2023, it has a total population of approximately 45.61 million, with a GDP per capita of US$5,260.2². According to the 2021 "International Diabetes Federation (IDF) Atlas 10th edition,", it is estimated that around 2.01 million adults aged between 20 to 79 in Algeria have diabetes, with a prevalence rate of approximately 7.4%³.

As an important economic entity in the North African region, Algeria's pharmaceutical market is showing increasing growth potential. The approved Insulin Aspart Injection pre-filled pen and Insulin Aspart 30 Injection pre-filled pen, designed as user-friendly and secure disposable instruments, are set to enhance the injection experience for individuals with diabetes, offering greater comfort. Gan & Lee's localization strategy not only help reduce drug costs, but also improves the accessibility of medications, thereby better serving local diabetes patients and improving their quality of life.

Gan & Lee has consistently been a steadfast advocate and proactive participant in the Belt and Road Initiative. The cooperation with Algeria is not only an expansion of Gan & Lee's international market, but also a significant step to deepen the interactions and cooperation with the pharmaceutical industry in Africa. Moving forward, Gan & Lee will continue to leverage the expertise in the field of biopharmaceuticals to further strengthen in-depth cooperation with countries along the Belt and Road, advancing the global reach of the innovative pharmaceutical products.

References:

1. Embassy of the People's Republic of China in the People's Democratic Republic of Algeria. (2023, July 31). Overview of Algeria. http://cs.mfa.gov.cn/zggmcg/ljmdd/fz_648564/aejly_648566/

2. World Bank Group. (2023). Algeria. World Bank Open Data https://data.worldbank.org/country/algeria

3. IDF Diabetes Atlas 10th edition 2021. Available at: https://diabetesatlas.org/atlas/tenth-edition/

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 (Rapilin^®30), and one human insulin injection - mixed protamine human insulin injection (30R) (Similin^®30). 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 second overall and first among domestic companies in terms of procurement demand for insulin analogs. The company is also making strides in international markets, with the disposable pen needle (GanleeFine^®) approved by the US Food and Drug Administration (FDA) in 2020 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.