Mabwell (688062.SH), an innovative biopharmaceutical company with entire industry chain, has announced the establishment of a licensing and commercialization agreement with a strategic business partner in Peru for its denosumab biosimilars. This collaboration grants the partner exclusive sales rights for the products within Peru, with Mabwell retaining responsibility for development, production, and commercial supply.

Peru, a member of the Asia-Pacific Economic Cooperation (APEC), has experienced robust economic growth in recent years, outpacing the average annual growth rate of all APEC economies. In 2023, Peru's GDP soared to 267.6 billion US dollars, securing its position as the fifth-largest economy in South America.

Regarding this strategic alliance, Mr. Huiguo Hu, Board Member, Senior Vice President, and Board Secretary of Mabwell, stated, "We are thrilled to have forged this strategic partnership for the Peruvian market, aimed at commercializing Mabwell's denosumab biosimilars. Latin America represents a significant emerging market, and we are confident that this collaboration will significantly improve the accessibility of denosumab for the local patient community."

Mabwell has previously established strategic cooperation in several Latin American countries, including Colombia, Ecuador, Argentina, and Brazil.