LG Chem is actively pursuing entry into the Chinese osteoarthritis treatment market.
Recently, LG Chem disclosed that its partner in China, Yifan Pharmaceutical, has launched Synovian (known as Hyruan One in China), LG Chem’s single-injection osteoarthritis treatment, into the Chinese market.
Founded in 2000 and headquartered in Hangzhou, China, Yifan Pharmaceutical is a comprehensive pharmaceutical firm with a diverse portfolio encompassing anti-inflammatory, anti-cancer, and endocrine/metabolic disease treatments. Employing approximately 6,000 staff members and achieving annual sales of KRW 1 trillion (USD 800 million), the company is renowned for its robust R&D capabilities and commercialization achievements, reflected in its inclusion in the China 100 Most Innovative Pharmaceutical Companies (CPIE 100, 2022).
Synovian, developed using LG Chem’s proprietary cross-linked hyaluronic acid (HA) technology, was initially launched in Korea in 2014. Noteworthy for its single-injection convenience, it delivers therapeutic effects comparable to multi-injection formulations.
Phase 3 clinical trials conducted on Chinese knee osteoarthritis patients demonstrated Synovian’s efficacy in reducing knee pain, improving joint function, and maintaining safety levels equivalent to multi-injection HA products.
Given Synovian’s success in Korea and its streamlined administration, LG Chem anticipated rapid market penetration in China. Consequently, LG Chem formed a strategic partnership with Yifan Pharmaceutical and has been progressively preparing for market entry.
Yifan Pharmaceutical initiated local phase 3 clinical trials in August 2019, applied for marketing approval in December 2021, and received approval in April 2023. After approximately a year of negotiations, Synovian was included in China’s National Reimbursement Drug List (NRDL), marking a significant milestone in its market debut.
IQVIA, a pharmaceutical market research firm, values the Chinese market for HA injections for osteoarthritis at KRW 200 billion, positioning it as the world’s third-largest market after the United States and Japan. Synovian, being the sole single-injection option available, enjoys a distinct advantage over the conventional five-injection regimen.
A survey conducted among Chinese doctors revealed that 87% expressed a preference for Synovian due to its patient-friendly attributes, such as reduced patient travel and minimized infection exposure risks.
LG Chem is committed to enhancing Yifan Pharmaceutical’s operational capabilities by sharing its domestic market expertise through regular training programs. Additionally, LG Chem plans to support Yifan’s local sales and marketing efforts by developing educational content for healthcare professionals and facilitating academic exchanges between Korea and China.
Hwang In-cheol, Senior Vice President of LG Chem’s Primary Care Business Division, affirmed, “Through strategic collaboration, we aim to accelerate market penetration and cater to the needs of Chinese arthritis patients seeking innovative treatment options. Leveraging Synovian’s competitive edge as China’s first single-injection osteoarthritis treatment, we strive to lead a transformative shift in treatment paradigms.”
