Overview
Bukwang Pharmaceutical has announced the introduction of its new medication, Latuda (lurasidone hydrochloride), effective August 1, and it will be covered by pharmaceutical insurance.
About Latuda
- 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.
Latuda apovals
- 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 on Latuda
- 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.
New CNS Business Division
- 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.
