LG Chem has entered the Chinese osteoarthritis treatment market through a strategic partnership with Yifan Pharmaceutical, aiming to introduce its single-injection formulation, Synovian, under the export name Hyruan One.

Highlights

LG Chem, in collaboration with Yifan Pharmaceutical, has launched Synovian (Hyruan One) in China, targeting the KRW 200 billion market for osteoarthritis treatments. Synovian is China's first single-injection formulation, offering enhanced convenience for patients compared to traditional multi-injection therapies.

Details

On the 3rd of the month, LG Chem announced its partnership with Yifan Pharmaceutical for the Chinese launch of Synovian, designed to simplify treatment regimens for osteoarthritis patients. Yifan Pharmaceutical, a prominent player in the Chinese pharmaceutical industry, has demonstrated strong R&D capabilities and commercial reach.

Synovian, initially developed and successful in Korea, utilizes LG Chem's proprietary technology based on cross-linked hyaluronic acid (HA). Clinical trials in China confirmed its efficacy in reducing knee pain and improving joint function, aligning with results seen in multi-injection therapies.

Following local phase 3 trials and subsequent regulatory approval, Synovian secured inclusion in China's National Reimbursement Drug List (NRDL) after negotiations with government bodies, positioning it favorably in a market valued at KRW 200 billion, one of the largest globally for HA injections.

Market research by IQVIA highlighted Synovian's competitive advantage as the sole single-injection option amidst conventional five-injection treatments. A survey of Chinese doctors indicated high acceptance rates (87%) due to reduced patient inconvenience and infection risks.

LG Chem plans to support Yifan Pharmaceutical through knowledge sharing and academic initiatives, aiming to enhance local sales capabilities and facilitate medical exchanges between Korea and China.

Hwang In-cheol, Senior Vice President of LG Chem's Primary Care Business Division, emphasized the strategic collaboration's goal to address Chinese patients' evolving treatment needs and lead innovation in osteoarthritis care.