Eli Lilly and Company received approval from Chinese regulators on Wednesday for its drug, mirikizumab. The authorization covers the treatment of adults with moderately-to-severely active ulcerative colitis and Crohn's disease.
This decision grants the pharmaceutical giant access to China, the world's second-largest pharmaceutical market. The drug represents the first innovative medicine in the digestive immunity field for Lilly’s China division.
Mirikizumab is already available in other global regions, including the United States. Analysts expect the entry to capitalize on forecasted growth in China’s ulcerative colitis therapy market over the next decade.
Lilly has not yet disclosed a specific launch date or pricing for the Chinese market.