Mabwell (688062.SH, 02493.HK), an innovation-driven biopharmaceutical company with a fully integrated industry chain, announced that it has recently entered into licensing and commercialization agreements with local partners in the Philippines, Vietnam, and Malaysia respectively for its aflibercept biosimilar product. Under the agreements, Mabwell and its partners will jointly advance the product's registration and commercialization in these markets.

The Philippines, Vietnam, and Malaysia are key growth drivers of the ASEAN economy, with a combined population of over 250 million and rapidly expanding pharmaceutical markets. According to BMI Research, Malaysia's pharmaceutical market is projected to achieve a compound annual growth rate (CAGR) of 6.4% from 2025 to 2029, while the Philippines' pharmaceutical market is expected to grow at a CAGR of 7.2% from 2025 to 2030. Data from the Vietnam Ministry of Health indicates that its pharmaceutical market is growing steadily at 6% to 8% annually. Previously, Mabwell has already established partnerships in these three countries for two denosumab biosimilar products and is actively advancing the local registration processes.

Mr. HU Huiguo, Senior Vice President of Mabwell, commented, "We are pleased to see another product, following denosumab, achieve partnerships across multiple ASEAN countries. The ASEAN region has always been a vital part of Mabwell's overseas business expansion, offering substantial clinical demand and market potential. We will work hand in hand with our partners to accelerate local registration of these biologics to benefit more local patients."