Bukwang Pharmaceuticals Introduces Latuda for Schizophrenia and Bipolar I Disorder Depression Treatment
Thursday, August 01, 2024
Bukwang Pharmaceutical has announced the introduction of its new medication, Latuda (lurasidone hydrochloride), effective August 1, and it will be covered by pharmaceutical insurance.
Latuda, an atypical antipsychotic medication for schizophrenia and bipolar I disorder depression, was developed by Japan's Sumitomo Pharma. Bukwang obtained exclusive licensing rights in Korea through a partnership with Sumitomo in April 2017. The company applied for insurance coverage through a pre-approval review system, which resulted in a coverage decision about eight months after receiving local product approval on November 23, 2023. This quick decision reflects the strong market need for new schizophrenia treatments.
In Korea, Latuda is approved for treating schizophrenia in individuals aged 13 and up, and for managing major depressive episodes related to bipolar I disorder in those aged 10 and older. Internationally, it has been approved for schizophrenia in adults across 54 countries, including the US and the European Union, and for adolescents aged 13 to 17. It is also approved as both a monotherapy and adjunctive therapy with lithium or valproate for bipolar I disorder depression in adults in 21 countries, and as monotherapy for children aged 10 to 17 in certain countries.
Bukwang emphasizes that Latuda provides long-term effective treatment with a lower incidence of metabolic side effects, such as weight gain and elevated blood cholesterol and sugar levels, commonly associated with other atypical antipsychotics. This makes it a promising option for patients with bipolar disorder depression and pediatric patients who have limited choices.
Ahead of the launch, Bukwang established a new CNS Business Division under CEO Lee Je-young to focus on sales and marketing in the central nervous system sector. A company spokesperson expressed optimism that Latuda will become a major product for Bukwang, contributing significantly to future sales growth through targeted hospital sales efforts.
Source: bukwang.co.kr
