Menarini to launch Gan & Lee’s GLP-1 drug bofanglutide across Europe in $771 M partnership

Italian firm Menarini Group has entered a licensing agreement with Chinese insulin producer Gan & Lee Pharmaceuticals to bring the GLP-1 compound bofanglutide to Europe.

The deal includes an upfront payment of €62 million (about $72 million) and milestone payments that could total up to €664 million, together worth roughly $771 million, plus double-digit royalties on sales.

Menarini will be responsible for regulatory filings and commercial launch in 39 markets, covering all EU member states, the United Kingdom, Switzerland, Norway, Iceland, Liechtenstein and several Balkan nations.

Bofanglutide, a bi-weekly injectable GLP-1, completed a phase-3 trial in China and a phase-2 study in the United States, where it achieved its primary goals of weight loss and tolerability in patients who are overweight, obese or have type-2 diabetes.

The partnership is described as a key step for Gan & Lee’s shift from an insulin focus to broader metabolic disease innovation and gives Menarini a new product line in the competitive GLP-1 market.