SHANGHAI, Jan 30 (Reuters) - 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.
(Reporting by Andrew Silver; Editing by Thomas Derpinghaus)
