Mankind Pharma, Chongqing Chenan to launch 2 insulins in India
Mankind Pharma is partnering with China's Chongqing Chenan Biopharmaceutical to bring two new insulin products, insulin degludec and a degludec-aspart combination, to India.
This move expands their diabetes care lineup and injectable therapy range.
Atish Majumdar, Senior President - Sales and Marketing at Mankind Pharma, says "China is rapidly emerging as a hub for innovative biopharmaceutical assets. Building on our partnerships for Insulin Aspart and Insulin Degludec, we remain focused on expanding our in-licensing pipeline from China," and the company sees China's developing biopharmaceutical ecosystem as a potential source of differentiated assets for the Indian market.
Profits rise 30% to ₹568 cr
This announcement comes right after a strong quarter for Mankind Pharma, with profits up 30% (₹568 crore) and revenue rising 13% to ₹4,031 crore.
Its EBITDA margin also improved, and the company's stock saw a small bump on Thursday afternoon.