Lupin shares in focus after licensing pact with China’s Gan & Lee for GLP-1 drug

Shares of Lupin Ltd are likely to be in focus heading into trade on Tuesday, December 30, after the drugmaker announced an exclusive licensing, supply and distribution agreement with China-based Gan & Lee Pharmaceuticals for Bofanglutide, a novel fortnightly GLP-1 receptor agonist.

Under the agreement, Lupin will have exclusive rights to commercialise and distribute Bofanglutide in India. The deal strengthens Lupin’s diabetes portfolio and marks a clear push into the fast-growing obesity treatment space.

Bofanglutide injection is a once-in-two-weeks GLP-1 receptor agonist developed by Gan & Lee for the treatment of adults with type 2 diabetes and for weight management in overweight or obese individuals. As a potential first-in-class global fortnightly GLP-1 therapy, clinical data show that weight loss outcomes are comparable to or better than existing GLP-1 alternatives, while offering the added convenience of fortnightly dosing versus weekly injections. The drug is also reported to maintain safety and tolerability consistent with the GLP-1 class and helps reduce both blood glucose levels and body weight.


The opportunity comes against the backdrop of a growing metabolic health challenge in India. About 174 million adults are classified as overweight and nearly 50 million as obese, while diabetes affects an estimated 90 million adults, already making it an epidemic.

Commenting on the development, Nilesh Gupta, Managing Director of Lupin, said the company remains focused on addressing chronic metabolic diseases such as diabetes and obesity, calling the partnership a reflection of Lupin’s strategic focus on the GLP-1 class of drugs.

Rajeev Sibal, President – India Region Formulations, highlighted that Bofanglutide’s fortnightly dosing reduces the number of injections by 50%, while delivering efficacy that matches or exceeds existing weekly formulations. He said the alliance would help strengthen Lupin’s position in metabolic health and expand its portfolio of innovative therapies.

From Gan & Lee’s side, EVP and Chief Commercial Officer Kai Du, along with Key Accounts Director Dhaval Soneji, said the partnership follows the company’s Latin American exclusive agreement signed in November and reflects its broader global expansion strategy. They added that the collaboration with Lupin supports Gan & Lee’s aim to offer improved treatment options for metabolic diseases globally and showcase Chinese biopharmaceutical innovation internationally.

Lupin shares have had a rough 2025, down 12% on a year-to-date basis.

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