On November 25th, Gan & Lee Pharmaceuticals...(603087) announced that it has entered into an exclusive licensing and commercialization agreement with Productos Científicos SA de CV (hereinafter referred to as PC), a well-known pharmaceutical company in Latin America, authorizing PC to develop and commercialize Bovangravitide (GZR18), a bi-weekly formulation of glucagon-like peptide-1 receptor agonist (GLP-1RA), independently developed by Gan & Lee Pharmaceuticals, in Latin America (including key countries such as Mexico and Brazil). This collaboration marks the first time that Gan & Lee Pharmaceuticals has achieved independent innovation in drug development.This international expansion has also opened up a new commercialization strategy for Gan & Lee's innovative drugs in Latin America.

The Latin American GLP-1 market has huge potential and bi-weekly formulations have significant advantages.

This collaboration combines Gan & Lee Pharmaceuticals ' innovative R&D capabilities with the partner's local strengths to jointly explore a rapidly growing market. Public data shows that the prevalence of diabetes and obesity in Latin America has long been high, leading to a continuously rising demand for related treatments. In 2024, the Latin American GLP-1 receptor agonist market reached US$1.323 billion. According to industry forecasts, this market size is expected to exceed US$3.5 billion by 2030, with a compound annual growth rate of 16.8% from 2025 to 2030.

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